The bailout tax payer funding was to be used in order to free up credit and help the American people. It was not intended to be used for personal financial gain of BOA, who used billions to purchase other failing banks. Therefor, the tax payers money/billions, were totally misused by BOA. These bailouts need to stop. If these private business's and corporations are unable to properly and financially survive on their own. They should go out of business. The American people can not afford to have their tax dollars waisted. Tax dollars paid by the American people should be used for the American people. Not private business's and corporations.

Maybe we need to send Rubin and Madoff over to BofA and see how long it would take them to screw that one up even more. Crammer would be a good spokesperson for them.

it is time that we understand that the financial system based on the wall street model is a failure. it is time that we devised a more realistic system where investment is made on a term basis not just for speculation and hedging which is pure gambling.
in gambling there are no real winners only a few cheaters who are eventually caught and brought down.
only once we stop this greed which runs the system can there be a positive move forward. all the infusion of tax payer money to help failing financial institutions is wasted as greed in these institutions is not in the least interested in the upliftment of the sorry state of affairs we are in; it is only help to shore up their losses by acquiring other assets and making a greater mess of the sad situation.

. . . and they wonder why the American people are "not investing in the market or spending more . . ." The insanity of all of the corruption and incompetence is overwhelming. BAC is making acquisitions of other FIs, and at the same time there is talk of BAC being "dismantled" also??? The markets are in sbubstantial chaos, no one knows the "true value" of any of the corporations, especially with the "off-the-books" balance sheet items . . . it is insanity run amuck. There is simply NO INTEGRITY in any of the FIs, the corporations, or the markets. (People cannot feed their families with 'stock certificates" or pay their bills with them.) The mantra is "Reduce your debts; but save instead of spend . . . yet they need us to spend to keep the economy moving . . . and yet they offer NO INTEGRITY in any of the FIs, corporations, or markets. Congress is FULLY the PRIMARY CULPRIT in all of this.

BOA should not get additional tax payer bailout funding. BOA not only received several billions in bailout funding already. But BOA is now raising their credit card APR rates for cardholders to 19% interest. This to me is nothing short of consumer and tax payer funding fraud being conducted by BOA.

With all of these individuals griping about taxpayer's money for bailout to the banks, would it be best for the country if the banks failed? Surely, these bailouts are necessary evils and as regards taxpayer's money(now a political cliche'), has not taxpayer's money been used to finance so many things by the federal government ever since the 16th amendment was law? There has been no great outcry over the years until now. Just consider the waste of our money(taxpayers) in the past. Case in point: General Dynamics Corp about ten years ago was charging $100 or so for a toilet seat and it was gladly paid. This is just one of many examples. Congress(many of the 535 are just greedy, incompetent, egotistical) is our problem. No oversight. Eased up regulations. etc. etc. etc.

i think the taxpayer should get at lease half a million dollars. then credit card paid off, car loans paid off, some homes paid off,people will buy autos.down payments for homes. who will loose in this plan ?

Why do BAC and JPM want to be Citigroup?

http://www.bloggingstocks.com/2009/01/07/why-does-bac-and-jpm-want-to-be-citigroup/

It IS a vicious cycle we are now in. Already overdebted by trillions, most of it in hock to China, and the apparent 'answer' is to raid the money machines to an even higher level of steamy money making to cover places like BofA's and AIG messes. Never mind the number of unemployed and the homes sitting vacant and neglected. It truly is a quandry and I seriously doubt printing up yet more vacuous $$ to cover it all can help anything. Except help us all limp along until the final collapse. Whenever that is.
This is why we have got to start thinking about ourselves. I say prepare for the worst, and hope for the best. Do what I did, and learn to trade the forex. If you don't know how, you can get a $100,000 free demo account by going to http://forex-currencyexchange.com click the link at the top left corner, if I remember correctly. It will take you to a sign up page where all you have to do is give your name and email. You can then start practicing trading.

Maybe the government should talk to Sandy Weill. He made enough money in the Citigroup "slaughter" to fund a lot of the bailout. He is responsible for the entire Citigroup "supermarket", a lot of The Travelers "ex" employees can verify that. He is a destroyer, and always has been.

I wouldn't underestimate the "plot" Lewis has constructed for the company with the approval of the board members regarding the recent acquisitions. I think there is more to the story then what is exposed to the public. I think there are some built in incentives to complete the Merrill deal and make it work, and despite CW's problems, this market will improve with the help of the new administration. When the rebound starts, my belief is you will see the benefits of the risk and a reward for the taxpayer.