AG Kamala Harris Subpoenas BofA

Can't think of anybody who deserves it more (5.00 / 3)

I have a long and unpleasant relationship with BofA. Through it, I've never been able to really decide if they were actually trying to cheat me. Or if they were just that unbelievably incompetent.

For almost a year, they couldn't seem to get statements to me. But they were perfectly able to collect the overdraft charges I racked up as a result. This issue magically went away when I moved to Oregon. Same U.S. Postal service delivered my mail. But customer service had no explanation.

When they moved to Atlanta, my credit card statements started showing up weeks after they were supposedly issued. Again, they could charge me the late fees this incurred, but not explain why it took them so long to put a statement in an envelope. They'd show up the day they were due sometimes. I finally had to cancel the card to protect my credit rating.

When they bought out Countrywide, I wound up doing business with them again. But just recently, they decided to cancel the home equity loan on my house. I still get to make the payments--which I've always done without fail. I just can't use it ever again. So I'm in the process of refinancing my house to get rid of them one more time.

Clearly the first two were before the advent of Internet banking. But it appears that, absent the ability to cheat customers by not sending them things, they've decided to make the charges more direct.

I'd love to see AG Harris put these scumbags in jail. But I'll settle for having her put them out of business.

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by: cfinnie @ Thu Oct 20, 2011 at 21:33:36 PM UTC

Break up the Big Banks (6.00 / 3)

This should happen to BofA and to other Big Banks, ala Teddy Roosevelt on Anti Trust Grounds. And yep I think Kamela should go after the Bums, some CEO should pay for all the problems they've dealt to the economy...

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by: SuperJoker @ Thu Oct 20, 2011 at 23:21:01 PM UTC

[ Parent ]

my rant (4.00 / 2)

I'm all for anti-trust - too big too fail is TOO big.

Why don't they have capitalism like the rest of us?

The other thing that gets me is that banker and wall street investors some how think they are the producers addressed in the fountainhead.  Look guys you arent producing, you are making money off the buying and selling of others.

On that note, (and libs feel free to push this) - if lowering capital gains tax will boost the economy and investment then why don't we just reduce commissions earned by buying/selling stocks and like.  The % that investment houses slap on trading is more of a disincentive than the capital gains because you pay it up front.  So cut there bonuses, commissions, and godlike salaries so it will be cheaper to invest!

There you go liberals feel free to use it :)

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by: CaliCon @ Sat Oct 22, 2011 at 03:01:36 AM UTC

the preeminent class war of our time (0.00 / 0)

is between those who make things and provide services of some use on the one hand, and those who extract rent and speculate on the other. finance, insurance, real estate and energy are threatening everyone else with their insatiable avarice and meglomania.

there are other serious conflicts within our society and economy, but none of us will be able to make it if the FIRE economy is not laid low and returned to a minor and heavily regulated sector of the overall economy.

there is common ground for left and right within the 99%, if not in perpetuity, then with this particular struggle.

trust busting, re-regulation, transaction/tobin taxes, public banks, etc. are all worth considering, as a way to get the rest of the economy out from under their thumbs.

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by: wu ming @ Sat Oct 22, 2011 at 23:49:45 PM UTC

[ Parent ]

etc (0.00 / 0)

I don't know why credit unions didnt get more credit (no pun) during the crisis.  Yeah some went down but because CUs are by definition smaller entities it didnt have the systemic risk like big banks.  And I screamed when congress&Bush&co said if we didnt bail at the banks no one would lend. As if no one would ever do it again.  And nothing addressed the real problem on lending that comes durig funancial crises - Banks don't trust either like we don;t trust them so they don't lend to each other. Govt didnt address that.

I do like you coment that the class war is between producers and those that freeride on them.  Best argument I heard in awhile.  tradionally (and usually what you hear) is that its a capital (those that invest) and labor (those that are employed) split. But you are right, because of globalization and the way our economy is structured its a split between people that actually produce/invest and those that throw a fee on top of connecting the two.

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by: CaliCon @ Tue Oct 25, 2011 at 04:22:56 AM UTC

[ Parent ]

to be fair, there are also nested conflicts/tensions (0.00 / 0)

if we ever manage to overcome the stranglehold of finance and rentiers, but we don't even get to have that fight without solving the immediate problem. it has gotten to the point that it's choking everything else out to feed itself, totally out of balance.

alliances need not be permanent to be important or meaningful.  

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by: wu ming @ Wed Oct 26, 2011 at 09:18:34 AM UTC

[ Parent ]