Illinois Governor Suspends All State Business With Bank Of America!

[jonanthans]

http://rawstory.com/news/2008/Ill._G...Bank_1208.html

In a stinging note of support for the laid off workers that have taken up residency in Chicago's Republic Windows & Doors factory, the Governor of Illinois has suspended business with Bank of America until it reissues credit to the shuttered company.


One way to get a banks attention....

[jonanthans]

anyone here do business with BoA?

http://www.economyincrisis.org/articles/show/2172

Just one month after receiving $25 billion from the Treasury to stave off disaster, Bank of America spent $7 billion to increase its holdings of China Construction Bank.

In mid October Bank of America was one of the hand-selected institutions to receive the first phase of the $700 billion bailout package. As one of the world’s largest banks, Bank of America was deemed suitable for a cash infusion by the Treasury Department in order to shore up its assets and get the bank to open up its channels for lending. Bank of America is apparently lending, but it is lending overseas rather than to beleaguered home and business owners in the United States who desperately need a hand.

[jonanthans]

I think it's a great move on the part of the Govenor, it's about time and hopefully more State and Local Authorities will start looking at how they can use their authority to break up these banking cartels.

These bail outs seem to me to be nothing short of the looting of the Treasury. The incredible thing is that the Federal Reserve is a private institution, what ever it gives to these banks from the Bail Out it's actually first loaning the money to the Treasury which we tax payers actually have to pay the Federal Reserve Interest on the money they loan the Treasury to do it. The banks aren't going to pay that interest, the banks are the Federal Reserve. We pay the interest. Currently our governent owes the Fed so much money it equates to about 175,000 dollars for every man woman and child in America!

The frightening thing is the last act of any government is to loot the Treasury.

With the bulk of the Bail Out Money going to Citi-Group and it's Chairman of the Board Sir. Winn Bischoff also a member of Obama's economic team, I sure wouldn't be expecting help in redressing or slowing the hand outs to the banks being initiated from Obama. With the Chairman of Time Warner also sitting on Citi-Groups Board of Directors I sure wouldn't expect the Media to denounce the practice either.

I think the term Banksters fits....

This is a great link to a great 5 hour documentary that I think sums up the Banksters and their mentality and practices.

http://www.redicecreations.com/article.php?id=1969

[grassbutcher]

I think it's a great move on the part of the Govenor, it's about time and hopefully more State and Local Authorities will start looking at how they can use their authority to break up these banking cartels.

Praising Gov Blowhole?!? You must not live in Illinois and speaking of the gov...this explains why he was so quick to support letting out George Ryan http://www.cnn.com/2008/POLITICS/12/...nor/index.html he probably wants the same courtesy in the future!

[jonanthans]

Praising Gov Blowhole?!? You must not live in Illinois

I do not live there, and do not even begin to lend support for him overall, I was stating in my opinion he did a good thing on this one particular action. I'm quite sure you well know more about his misdeeds than I ever could know. This action no doubt benefits him in more ways than one, but at least something good came from it..

[grassbutcher]

I do not live there, and do not even begin to lend support for him overall, I was stating in my opinion he did a good thing on this one particular action. I'm quite sure you well know more about his misdeeds than I ever could know. This action no doubt benefits him in more ways than one, but at least something good came from it..

I hear ya - I didn't mean to hijack your thread...I just thought it was funny to see a comment praising him on the same morning that the Feds cuffed him and took him into custody

[PEZGolf]

http://rawstory.com/news/2008/Ill._G...Bank_1208.html

He can watch the results from his jail cell. The Bank of America, led by CEO Ken Lewis, is a joke. The stock price has dropped from over $50 a share to $15; they tried a new stock issue, and it failed. He accepted $15 billion in taxpayer "rescue funds" because he has bought the LaSalle Bank, MBNA credit cards, and Countrywide S & L, all of whom are losing big money. Why does the Board not fire him? Why did Hank Paulson give him a check for $15 billion without demanding that the Board fire him? What is wrong with this picture? The Bank of America is in favor of growth (purchase of Merrill Lynch, in addition to the others), and they could care less about the "little guy". Move your accounts out of there and never go back.

[EquipmentJunkie]

LOL, when I saw this on TV today I thought of this thread and laughed out loud for 10 minutes.