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#1 I think the idea is this.
1/ Spend the money on Cronies.
3/ Claim victory! The world is still there.
Bunch of Cnuts.
Posted by Bright Pebbles 2012-06-13 10:32||
#2 Bank of America flushes $50 billion of other peoples' money down the toilet.
Posted by Chemist 2012-06-13 12:26||
#3 And here I just heard last week that the banks were having a hard time making ends meet after the Feds regulated their fees.
I guess Bank of America has money to burn!
Posted by Bobby 2012-06-13 12:33||
#4 remember that the Dem Convention will be held in Charlotte, NC. The ascension of Emperor Obama to Dem Prez renominee will take place at Bank Of America Stadium there. That is already getting flack. I suspect this is an attempt to buy some concessions from the "I hate BofA/1%" crowd using somebody else's money
Posted by Frank G 2012-06-13 13:44||
#5 "Combat Climate Change:" = let's spend money to wreck what's working in the energy industry in the US, but hope the people working in it are still able to send in their monthly mortgage checks and credit card payments.
Posted by Thing From Snowy Mountain 2012-06-13 14:08||
#6 Two words -
In the handling of money and when one acts as a corporate or individual trustee, there is a fiduciary responsibility owed to the principal party. It is defined as a relationship imposed by law where someone has voluntarily agreed to act in the capacity of a "caretaker" of another's rights, assets and/or well being. The fiduciary owes an obligation to carry out the responsibilities with the utmost degree of "good faith, honesty, integrity, loyalty and undivided service of the beneficiaries interest." The good faith has been interpreted to impose an obligation to act reasonably in order to avoid negligent handling of the beneficiary's interests as well the duty not to favor ANYONE ELSE'S INTEREST (INCLUDING THE TRUSTEES OWN INTEREST) over that of the beneficiary. Further, if the agent should find him/herself in a position of conflicting interests, the agent must disclose the dual agency (acting for two parties at the same time) or risk being accused of constructive fraud in regards to both or either principals.
The lot of the board and operators should be sacked.
Posted by Procopius2k 2012-06-13 15:16||
#7 Curse B of A. They are still on the band wagon after all this?
You are going down.
Posted by newc 2012-06-13 22:14||
#8 I'm sure that if you read the fine print, they'll spend this 50 billion over the next 50,000 years.
Posted by Silentbrick - Schlumberger Squishy Mud Division 2012-06-13 22:49||