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Bank of America: Fed isn't doing enough to manipulate markets for us...

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June 03, 2009 – Comments (2)

That's pretty much the message here.

As mortage rates go up, home prices need to drop even more than they have, and that will spell bad things for banks (like this one) who gave out a lot of lousy mortgages on overpriced real estate.

Taxpayers, prepare to take on another giant slug o' responsibility so that the unholy alliance of banks and politicians can pretend the remedy the borrowing problem through more borrowing.

Sj

2 Comments – Post Your Own

#1) On June 03, 2009 at 10:43 PM, WCWlooky (22.39) wrote:

I feel so stupid, used, abused and manipulated. I knew they were throwing money around and that markets can be manipulated, but by my dear old Uncle Sam? Say it ain't so.

The recent end of day market jumps are supposed to be a sign?

http://www.baltimorechronicle.com/2009/052909Lendman.shtml

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#2) On June 04, 2009 at 6:34 PM, EnigmaDude (87.06) wrote:

The big bad bank is going down!  And desperate times require desperate measures. 

Oh wait - they're the Bank of AMERICA. Never mind.

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