Bank of America BAC Our Friendly Bank?
Dinner discussion in my family always leads to one of three things: politics, financial news, or religion. Of course, those are the three topics one should never bring up at a dinner party. However, in my family… anything goes.
In one particular discussion this question was posed: Will the Bank of America (NYSE : BAC) ever be people’s neighborhood banks again? The honest answer is no. Blame Obama or anyone else but those big corporations have just plain “evil” to much of the U.S. Population. Re-branding is about the only thing that BAC could do to make us feel “special” again.
Too many late nights on the phone trying to get my $15.00 back from Citizens, made me give up on big banks completely. My local credit union, which is seeing a surge in popularity due to this recession and bank fear, will do just fine, thank you. I find it funny how many people trade stocks with their banks when there are great “discount” brokers like Tradeking www.TradeKing.com, when in actuality, they offer more than a typical bank would ever offer for trades. This does not mean of course, that BAC is not a tremendous stock to own. Out of all the bank stocks I would choose to buy, it would have to be BAC. Sometimes “corporate greed” means investors can share a profit too.
Comment by Marilyn Muskett on 3 June 2009:
Bank of America has, for the second and last time, made an unauthorized deduction from my checking account. They claimed that I made a telephone call authorizing such withdrawal over a month ago, which is a bold faced lie. I feel violated, the same that someone feels when their home is broken into. The amount was for $360 and they now tell me that it will be “5 to 7 business days” before it can be corrected. I live paycheck to paycheck right now, not knowing what I will be earning for the week, thanks to the downturn of the economy. I called the State Attorney’s office who said that it isn’t considered stealing unless they do not return the money after 7 days. In the meantime, I am left with an overdraft account and no money for living expenses. How can a corporation steal from the consumer and get away with it? Even if the so called “error” is corrected, after 7 days, irreparable monetary damage and heartache have been caused. I have been a customer of BOA for 15 years and am at the end of my rope. I feel like our country has been taken over by a network of criminals, who instead of robbing the bank are actually running these institutions! Organized crime has truly taken it to the next level. I have made a decision today that I am dropping out of the network. That means, giving my house back to the crooked mortgage company, no longer paying the rip-off electric company, and disconnecting the “box”. I am going to drive my old car minimally and use my bike instead, stop paying credit cards, close all bank accounts, disconnect the phone and the internet and live the simple life. It is clear that our country has led us to slaughter like unsuspecting sheep, with plans for the long term enslavement of not only our lives but the lives of our children’s children’s children. It’s time for a revolution like this country has never seen. Are there any like-minded people out there?