4 Reasons to Close Your Bank of America Account

December 20, 2010 at 10:57 pm, Karim Walker said:

glad I don't have a BoA account.

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December 21, 2010 at 12:09 am, Rainbow Blue said:

CARMEL: You need to maintain journalistic integrity here. That picture on the top is of wikileaks.info WHICH IS NOT connected to wikileaks.org or wikileaks.ch IN ANY WAY SHAPE OR FORM and is probably under Russian cybercriminal control. It sits in a netborhood that is. -blue

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December 21, 2010 at 1:35 am, Aaron said:

Largest bank in the country, over 300,000 employees, and a BANK during the worst crisis we've ever had — and you expect, what, perfection? Sounds like a couple of unfortunate decisions by some persons acting in their own interest, not the bank or its shareholders, and some politicians riding the wave of “let's rage against the big, bad corporation” at the expense of pushing the public even further into misunderstanding what's really going on in this economy.

1 in 3 mortgages is held or serviced by BAC… if they WEREN'T the slowest, most deliberate responder to handling the housing crisis… THAT would be cause for concern.

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December 21, 2010 at 1:40 am, Juan Sanchez said:

Excessively Abusive Fees Charge by BANK OF AMERICA to Customers. My checking account recently became overdraft by $11.20, the thieves at bank of america not only charge a $35 overdraft fee, but also an additional $35 on top of the first fee for an “extended overdrawn fee” because the negative balance was not covered within five business days.

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December 21, 2010 at 1:20 pm, taux fu said:

#FU #BankofAmerica

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December 21, 2010 at 2:00 pm, SimonPeter said:

Stank of America. What a bunch of dogs. And Joe Biden wants to have journalist Julian Assange convicted for telling the truth. What a joke. It is a cruel joke when one loves the USA. I love the USA but boy are the US press repressed. Each reporter falling over themselves to see the great Australian journalist don in without a shadow of reflection on what that would mean for themselves. What a travesty. Makes one want to cry for Uncle Sam that it is served by such fools.

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December 21, 2010 at 7:37 pm, Barbara Ann Jackson said:

Investigate lawyers who unlawfully cause homelessness via deliberate foreclosure fraud.

Whether or not some people never should have been given mortgage loans; and whether or not homeowners oppose foreclosures, it is urgently important to look white collar foreclosure activities! Also, illegal, fraudulent foreclosure causes useless deeds for property sales; title insurance denials, blight –and more. http://chn.ge/eU2zAm

Furthermore, some PREDATORY mortgage loans are issued for the very purpose of borrower default so that properties can become flipped, repeatedly (hence blight); and lenders gain tax credits, mortgage-default insurance, and more! Additionally, too often, not only has the lender NOT filed foreclosure, certain homes wound up being flipped by self-dealing foreclosure mill lawyers who execute simulated auctions whereby “straw buyers” fraudulently “credit bid”!

White collar foreclosure fraud entails intentionally fraudulent foreclosures naming defunct mortgage companies, or having no ownership of notes; unfair fees beyond “Acceleration Clauses” that impairs borrowers’ ability to repay arrears; falsified Bankruptcy Court motions to “Lift Stay” for accomplishing”simulated” foreclosure auctions via “straw buyers.” And lawsuits against foreclosure lawyers for fraud and “Unfair Debt Collection Practices,” generates more lawyer fees.

Scores of homeowners do not contest foreclosures because of: not having knowledge of the law in order to recognize legally challengeable foreclosures or fraud; lack funds to pay for attorneys to represent them; homeowners are told to come to foreclosure auctions with money that they do not have, so they stay away from foreclosure auctions. It is extremely troubling that there are families living outdoors, and people strapped with illegal “deficiency judgments” whose homes have been confiscated via real estate racketeering!

Foreclosure lawyers are officers of the court; knowledge of applicable laws and civil procedure is not required from mortgage lenders, nor loan servicers. In states that require judicial foreclosures, FORECLOSURE LAWYERS are the ones who file lawsuits to seize and sell property; and lawyers are responsible for filing and recording foreclosure property deeds. *Request for Congressional Foreclosure Panel to Examine Foreclosure Lawyers @ http://www.change.org/petition…#

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December 31, 2010 at 4:14 pm, Digital82711 said:

Economics, Assange and the Bank of America Takedown

While it seems what many people presume the allegations against Assange are politically motivated and done to discredit Assange, one has to decide if these charges against Assange make the documents posted on Wikileaks more or less credible.

The question is: Will Assange’s Wikileaks “stress test” take down the Bank of America? I don’t think Bernacke has any such scenario in mind when he was implementing the Fed’s stress test. But, there is no way the Fed could ever simulate the market and any Austrian economist would tell you that a stress test created by the culprits who busted this country and now are trying to restack the deck of cards is merely spitting in the wind. The Fed may be able to fool all of the people some of the time, but there is a point where economic laws and reality take over.

The Bank of America knows everything about the criminality that was involved in its loans. Will Assange’s threats cause the Feds printing presses to once again begin QE III just for one bank? While people may believe the banksters’ rhetoric, once Assanage’s threats become a reality, what will the implications be for that bank’s very existence and profitiability? Will it have to pay back billions of dollars? Will this lead to the destruction of the Federal Reserve? Will international banking survive? Will it lead to the U.S. empire finally having to show its true nature. Or, will the elite cut there losses and be the first to start dumping their shares? If such a scenario occurs, will the elite cut their losses and let the market discipline Wall Street greed? If this scenario occurs, what is the implication for the entire system once Americans understand that as Bank of America went, so went the other big banks. It is not as if the tradecraft practiced by one bank was not common market practice. We were told there was no connection between banks and how they were run as the Federal Reserve papered over the entire banking industry with green pieces of paper printed in multi-trillion dollar valuations.

Even if the bank survives, how will Assange’s revelations affect the bank’s bottom line? While Assange remains in jail, he continues to issue decrees and edicts while remotely controlling an information machine that lets out information in stages. This is a necessity, not so much as a marketing strategy that allows him to keep one step ahead of the press, but to keep the sheer enormity of the empire’s global criminal enterprise from drowning out the screams of Karma demanding that attention be given to all aspects and facets of the racket. Just as the human mind has difficulty grasping concepts of the enormity of creating many trillions of dollars out of thin air, so to does the human mind have difficulty in surveying the size and scope of America’s governmental crime syndicate.

Assange continues to build his resume of exposing global criminality and it would be impossible for him to begin writing and covering what he has exposed. The great criminal class seeks to paint him as a nihilist and anarchist, but why and how is exposing the great crimes behind empire not a battle of good against evil?

As we speak, Bank of America is marshalling its legal forces to blunt any breaking of the lines in its façade. The illusion of “market confidence” has always been based on lies, force and ignorance. While Assanges “poison pill’ most assuredly exists, it will not be him who is the one doing the swallowing. Assange is not some Kenneth Trentadue the FBI can murder and then cover-up as they did after mistaking Trentadue for one of the culprits behind the Oklahoma City Bombing of the Murrah Federal Building. Because Trentadue had a criminal background the FBI was able to torture Trentadue to the point that he ended up murdered. An agency cover-up went into effect that continues to this day. It involved a closed-casket funeral, secret autopsy and the sanitization of a crime scene involving an atrocity so grotesque that even after specialists were sent in blood evidence was still evident. Moreover, the FBI used drugs to increase pain while torturing Trentadue. How did the world find out about this? It was because Trentadue’s brother was an attorney. Bar that and he would be another nameless victim forgotten and discarded in the imperium’s waste dump.

But, if the U.S. resorts to any violence and murder, such actions should lead to the violent overthrow of any criminal elements inside the government. Resorting to measures such as torture and murder should lead to the execution of the ruling elite A’la the French Revolution. Any violence or torture on the part of government entity in the Assange matter cannot be tolerated, condoned or excused.

Upon the public hearing the Assage threat, really a defensive threat to prevent his torture and murder, Bank of America stock immediately fell 3.2%. But, this is the calm before the storm. The truth will be much more severe that public perception understands given the history of what Wikileaks has already unearthed. What a fitting to the empire that the bank being attacked by Wikileaks happened to be the Bank of America. Could it be that this financial institution stands on the exact same footing and the nation? If so, to what extent will this smack other banks like Chase? Seeing how Mastercard and others have attempted to cut off funding to Wikileaks, won’t it be great if he ends up exposing the Ponzi scheme being run by the Federal Reserve and its regional banks?

Mark Taibbi wrote a brilliant analysis of Wall Streets’ crimes for Rolling Stone. In his piece he likens the banking operations to numerous confidence scams being run by grifters. Actually he has written an entire book, but one may not be able to handle such maddening information after reading his “Wall Street’s Bailout Hustle”. Its website is: http://www.rollingstone.com/po…. His exposure of Goldman Sachs in his “Taibbi’s Takedown of ‘Vampire Squid’ Goldman Sachs”, located at http://www.rollingstone.com/po… demonstrates even more criminal Wall Street criminal dealings and greed in explanations that allow the average person to understand the moral and economic decay behind Wall Street’s rise to dominance inside the White House and as the major industry driving a consumerist economy that produces little. With documents now creating a paper trail, we can now tie individuals to individual acts and begin assigning blame and issuing indictments.
For the “Average Joe” who gets out while the getting is good, Assange will be a hero of epic proportion by allowing those who have already been fleeced to save their last remaining dollars. If his Bank of America document dump remains true to form to what has leaked out s far, I would say Bank of America is probably running in crisis control mode as we speak.

With a balance of trade deficit that transfers wealth out that does not return, banking is a sorry industry to when it comes to generating wealth for the lower and middle classes. Taibbi’s testimony of Ben Bernacke’s former firm being a “great vampire squid wrapped around the face of humanity” may now be handed the smoking gun Americans need to see to begin the kind of revolt that will send shockwaves of fear into the political class as well as the banking industry. Wikipedia maintains some great articles representative of Taibbi’s work which will become further crystallized by Assange’s revelations.

Is should surprise no one that even Swiss banks have frozen Assange’s assets. By what right does the banking system, an actual money creating monopoly, freeze assets belonging to a private individual? It is amusing that people refuse to acknowledge the conspiracy in front of their faces. It should be obvious that the lack of serious reporting on the major networks is an effort to keep the American people ignorant and pacified.

The dropping of the Bank of America documents further exposes the failure of the regulatory system to police the entire banking industry. The fact that the Federal Reserve is not unaccountable to anyone and its decisions are made entirely in secret needs to be called into question and exposed for the inside job that it is. Ron Paul has tried to warn Americans for years, but his idea of providing oversight and accountability was deemed kooky by our elite. Our political and economic elite thought it was better to give the Federal Reserve more power than all of Congress. While our politicians have to conduct appropriation committee hearings, the Federal reserve can print or digitally create trillions of dollars thereby stealing all its value from the existing money supply. Ron Paul and Peter Schiff have great Youtube video going back years that not only predicted the political fall of the Soviet Union caused by immutable economic laws, but also predicted the housing collapse and banking crisis. Both individuals, and all the Austrian School of economic theorists, predicted not only these disasters with uncanny accuracy and insight, but also predicted the actions our government would take and explained how it will lead to monetary collapse, hyper-inflation, a devaluation of the currency and the end of the dollar as the world’s reserve currency.

Meanwhile, the mainstream media and its cranks have worked to ignore, mock, and fight the proponents of Austrian economic theory and its business cycle theory. However, Ron Paul has become a favorite on Fox News after the network mocked, censored, marginalized and then excluded him from the coverage it gave during the 2008 presidential campaign. Ron Paul has railed against the Federal Reserve with principled and practical arguments, but it seems Assange could end up being the stake Ron Paul needed to drive through the heart of the Federal Reserve in his life-long quest to save the American people’s wealth from being sucked away by a monetary system that allows the elite to feed on the people. This system has literally sucked the lifeblood out of people. Assange has not only taken on the government, but also takes on the world monetary system, which is from where our empire gets its ability to dominate the planet with military expenditures equal to the rest of the world combined. What worries the gatekeepers is that Assange’s popularity will continue to grow to such an extent that his example will be emulated and people will no longer fear the system. The system needs to have the ability to instill fear and helplessness. The prosperity such a system provides is one of self-imposed slavery where in the end the system ends up with everything. It is a system which would be the envy of any mob casino boss with usury that would make loan sharks blush.

The establishment’s big dig on Austrian economists is its failure to predict when the system will go completely belly up. Yet, how can people comprehend the enormity of the false economy that has been created when trillions of dollars have been sucked out of areas of the economy that are hidden from the American people? When legacy costs such as retirement accounts, 401Ks, pensions and Social Security prove to have multi-trillion dollar shortfalls, and interest on government borrowing soaks up so much money that tax revenues will no longer finance operational requirements, but end up being dedicated for one purpose – to service debt, do you think the elite will allow America to declare national bankruptcy? The interest on public debt continues to grow in what is a mathematical model of exponential growth. Eventually our government will be consumed by debt.

It can now be said that Assange is truly the most dangerous man in the world. The forces arrayed against him appear omnipotent. The establishment has built a dam to separate us from the flow of knowledge, power and money. Yet, like any small trickle of water working its way through the cracks, the erosion has created a crumbling beneath the surface. This erosion is being hid while the elite try to sell us a bridge for which the entire structure has been compromised. However, the elite want to keep this information from the public and seek to kill the messenger. While the elite maintain an almost seamless matrix and are quite good at creating the perceptions they seek to generate and the positions and opinions they deem correct, they also know where the weaknesses in the system are. It seems as though Assange has found that system’s area of vulnerability, and that weakness is truth and knowledge.

It strikes me as funny that no politician has yet to name a single incident in which Wikileaks releases has caused a single death, while the lies that Wikileaks has exposed can be traced to the deaths of many tens of thousands of innocent people. Why is it that the political class never mentions this issue? Should one person ever be able to be identified as having died from Assange’s the media and political elite will garnish so much attention on it that you would think the body count equaled Mao’s purges. Yet the wrongs from torture, murder and aggressive invasion to a swindling of an entire nation create a deafening silence while one waits for the mainstream media to utter anything meaningful or informative.

Assange is our nation’s entire “Fourth Estate”. He has provided more accountability and exposed more crime that the last 100 years of news reporting. He has led the media around by its nose and has shoved its face in the excrement left behind by the elite. Assange has exposed the gaming of the system by the elite to steal wealth. Investment banking’s role was supposed to be that of allowing capital to flow into areas of the economy that needed investment. However, investment banking now seeks to suck capital out of the system to finance its own greed as opposed to financing production.

For years Americans worked and were told to invest their money in a stock system that would ensure growth at a rate that would sustain them in their retirement. It seems a great many Americans will now be working there way into the grave. I guess that is the government’s plan to deal with retirement shortfall.

Banking sold securities it knew would flop but had rating agencies, qualitatively equal to Arthur Anderson’s accounting practices during the Enron swindle, lie to investors. This is how fund managers lost their clients’ retirement funds. How could a fund manager who never understood Austrian Economics have known after spending a lifetime functioning in our Keynesian system that the system was predestined to fail. No Keynesian, all the way up to its greatest practitioners and proponents, to include Geithner, Bernacke and Paulson, understood the extent to which moral hazard could create an economic bubble that represented so much of the American economy. Every homeowner thought they had their own personal cash station. As the stock bubble grew many used their house as their line of credit. In many places homeowners literally had the names of appraisers in their cell phones.

Wikipedia defines moral hazard as the situation that occurs when a party insulated from risk behaves differently than it would behave if it were fully exposed to the risk. For our current banking system this means it is always Other People’s Money as far as what the banks are concerned. And, while the average American lost everything, the elite were recapitalized at taxpayer expense thanks to their banking Wall Street buddies that now control the White House and Treasury.

It is not only obvious to all, but has been proven that banks made billions of dollars selling people what the banks knew were investments that were going to go down faster than the Titanic. In fact, on these investments banks profited by selling the instruments and then short sold them to profit from their rapidly falling values.

I had someone explain the concept of short selling to me and it works something like this: Let’s say a new Harry Potter book comes out and the public library managed to get the publishing company to allocate one-hundred books to it on first printing. The books have an over the counter value of $15, but people (the market) are willing to pay $100 per book due to what Austrian economists describe as “time preference”. Time preference is the phenomenon that describes buyers decision to pay more to own the book now. So, being an entrepreneur you get the idea to go to the library and sign out every book for the next four weeks and sell all of them for $100 each. Now, you know in three weeks a second printing will be run and there will be such a huge surplus that the price will drop down to $10 a copy. You also know the books do not have to be replaced until a week after the secod printing, so you take all the money you made off selling the books and buy 100 copies that you return to the bookstore. In such a situation you would have made $90 per book times 100 books.

On the other hand, the books you bought could have had some special defect that made them worth $500 each and when you returned them the library would see it was not getting its first editions back. The library could then sue you for the loss in value it sustained as a result of your selling the books at what ended uo being unvalued prices. In such a case you would be responsible for the subsequent loss in value of $480 per book.

You see, the value of the book is not a set value. The value is set by the market and fluctuates based on market supply and demand. Accordingly, a stock is not a set value, but fluctuates based on the earning of the company, the dividends it pays or its perceived value. This value is called the underlying.

Well, in the case of the banking system, the major banks knew they were peddling garbage. They also knew the stock value would drop, so they bought billions of dollars in shares, sold them a second time on the market and them replaced the shares once the market valued them as being near worthless. This is insider trading at its most insidiousness. Yet, our government refused to hold anyone accountable for the greatest transfer of wealth from the middle class to the rich that the world has ever seen.

With the Wikileaks documents it will be interesting to discover what Bank of America knew and when it knew it. It will also provide information regarding how systemic this scam on taxpayers and investors was.

The audacity of the greed perpetrated by the banking system will shock Americans. While our entire economy continues to crumble, banking is showing a profit. One need neither look far nor long to figure out how banks are showing record profits and issuing record bonuses. Bankers were able to do this because they forced government to borrow the money it needed to bailout the bankers’ banks. Banking is now charging interest to the entity that is gave it the money to bail itself out. Talk about bad business deals. In comparison, this makes my selling the Brooklyn Bridge to you a good investment because after I swindle you out of your money I can be counted on to not charge you any interest.

This is just one of a myriad of confidence scams the banking industry ran on an unsuspecting public. Again, Mark Taibbi gets much more in depth into the various banking crimes perpetrated by Wall Street. What I seek to document are not the crimes themselves, but the effects and consequences Assange’s disclosures will bring to crimes that have already occurred.

Our modern banking system has tuned Americans into wage slaves whose existence is only one step above that of a subsistence gatherer. In our modern system the relationship between slave and master has become an impersonal one whereby we never see the face of those who rule us, but by giving the elite the power to create money we have ceded the most important aspect of our existence to those whose objective to maintain and expand their power and privilege which can only be done at our expense.

While Wall Street and the Federal Reserve’s solution is to lower interest rates and print more money, it seems the trillions of dollars in stimulus created one job for every three million dollars created. We are at the point where interest is at zero and the amounts of money that has been created is astronomical figures, yet our economy stagnates. Consumerism is not an option and can never replace production as a method for the generation of wealth. The great stimulus first enacted by Bush and then Obama shows that one job wass created for every $710,666 in stimulus money.

While our government wants us to believe that meaningful legislation has been enacted to prevent Wall Street from stealing more money, the fact is that Wall Street spent $1 million each day lobbying legislators and providing PAC contributions. The day after 9/11 we had an entire encyclopedia edition of new legislation curtailing our rights and expanding government power, but three years after the Wall Street meltdown we have had almost no meaningful legislation passed that would prevent peoples’ retirment accounts and stock portfolios from being raided all over again through fiat currency productions, insider trading and market manipulation.

While the U.S. government had deployed all of its financial forces against the likes of the sinister Martha Stewart, it has yet to charge anyone over the theft of trillions of dollars. Our cowardly Republican politicians will talk big about getting their woman who was targeted due to being a supporter of Democratic causes, it had failed miserably to find a single criminal action in the largest transfer of wealth from the middle class to the wealthy in the history of the world. It will be interesting if they are embarrassed into having to reopen investigations where the corporate word was taken as gospel by investigators. Bank of America officials may be opened to prosecution for crimes especially the catchall whereby the government prosecutes perjury as people are found innocent of the initial criminal act but were found to have lies in some minor aspect of the case. This was the exact scenario that caused Martha Stewart to be charged and sent to a federal prison. She was found innocent of insider trading and by legal definition did not commit the crime for which the FBI charged her, but they then prosecuted her for lying about when stocks were sold in what turned out to be a perfectly legal act. Imagine if the public, investors, the FBI and SEC begin reading documents issued by corporate officers discussing how to mislead investigators. I surmise the fireworks will be spectacular.

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January 18, 2011 at 9:46 pm, Alidan_01 said:

I opened an account at Bank of America 12/29/2008 hoping to transfer from Chase because I was looking to buy a home and decided I was going to use Bank of America. By 09/2009 I decided I was going to stick with Chase and went to close the Bank of America account on 9/21/2009. When I went to close it I was told that I owed $10.95 because I had already transferred the balance back to my Chase account. The $10.95 fee was for credit monitoring that I had on the account. I paid the fee so that the account was -0- and then told the teller I wanted the account closed. She went for another lady who proceeded to “close” the account, I should note that I’ve never closed a bank account before so when she told me that the account was closed and gave me my receipts for the payment I made I went on my merry way. On 03/02/2010 I received a letter from ERS solutions Inc. stating that I owed Bank of America $128.26, I called the bank to inquire what the charges were and was told that they were for credit monitoring. I informed them that the account had been closed since 09/21/2009 and asked how a closed account could be charged for credit monitoring. The representative told me that the account was not closed properly and that they were at fault and after giving all the details I was told that it would be taken cared of. I had not heard anything from Bank of America since after I closed the account to make me suspicious of the fact the account was still open. After speaking to the Representative in 03/2010 I had not heard or received anything further. Fast forward to 01/2011 I receive a letter from NCO Financial System about the same $128.26. I again explained the situation to the credit collector and contacted Bank of America only to get a run around, about how old the issue was and if I had resolved it sooner they would be able to give me a credit. They said they no longer have access to the information since it’s with a collection agency. I first called customer service who gave me the number to recovery services who couldn’t help and told me to call customer service, which connected me to customer solutions that sent me back to recovery. They told me that if I had closed the account I should have received a statement saying it was closed, which I never got and since I never closed an account and they never said that when I went to the Bank to close it, i guess I have no proof i actually closed it. Other than the fact that i am not dumb and I am cheap and hell and would never leave an account for charged to be billed for no reason. Clearly they are trying to make it seem as if I am at fault when I’ve spoken to reps who told me they were at fault and now they try to turn the table saying I should have known that I had to receive a statement saying the account was closed. I have $128.26 that is in collection and I refuse to pay it because I spend my time and money monitoring my accounts and money to ensure I am not being scammed by individuals and it’s the institutions that you trust to be trustworthy end up cheating you. I don’t pay lifelock and check my credit report trying to keep my name clear and myself debt free for Bank of America’s billionaires to try to cheat me out of $128.26. They will get that money when I die. They can dig my body out of the ground and sell my body parts in order to get that money, but as long as I am alive they will not get that money. I’ve never owed a single person, or company for anything. I pay all my bills before they are due but I won’t pay a bill I know I don’t owe, I am not made of money Bank of America and if you heard otherwise then bully for you!

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May 24, 2011 at 6:10 am, JST Books said:

f you need to release some cash today a pension loan can allow you to raise up to half of the value of your pension fund. A pension loan is considered to be the ideal option if you need certain amount of cash quickly. That’s why every one is trying for pension loan. still pension loans are unsecured loan.

pension loan

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