Tuesday, August 4, 2009

Robbers All Around Us

Ok, sorry about this one. We try to keep the politics and stuff OUT of our lives... so our lives are more enjoyable and happy.

But... this one is just too blatant. Yesterday NPR.org reported that Bank of America is to settle with the government for $33M that it misled (lied) to investors and the public. BofA misled others to believe it would NOT pay bonuses even though the bank had already had begun to pay them off. BofA paid out a reported $3.6 BILLION to members of the failed Merrill Lynch - the same folks who LOST $27.6 BILLION last year. Well done, gentlemen! BofA has received $45 BILLION from tax payers from TARP funds.

So what is the penalty for giving away $3.6 BILLION to their friends and partners in crime? They have to pay the government's fine of $33 million. And for that $33 million, BofA admits NO wrongdoing. That is less than 1% of the bonuses they paid out.

The BofA spokesman stated "Bank of America believes that the settlement ... represents a constructive conclusion to this issue,"

Wow. That takes some nerve.

Here is the article: http://www.npr.org/templates/story/story.php?storyId=111503909

The other quote that comes to mind here - "...letting the guilty and the wicked go unpunished because of their money; and moreover to be held in office at the head of government, to rule and do according to their wills, that they might get gain and glory of the world, and, moreover, that they might the more easily commit adultery, and steal, and kill, and do according to their own wills— "

We are spiralling downward quickly. Do you know what happens after this? We do...