Whistleblowers Confirm Bank of America Still the Worst Bank

[Corey Dutton]

According to a recent article published by the Huffington Post, former employees of Bank of America have filed sworn statements about the bank’s unethical conduct toward borrower’s seeking loan mods or due process on foreclosure.

Bank of America also publicly showed taking only $45 Billion from the Fed in bailout money, but secretly took double that for a whopping $91 MM taken from the U.S. public coffers via Uncle Ben Bernanke. Right again, that’s YOUR money that the Fed used to bail out this greedy institution. Read more on the biggest takers of public money during the Fed bailout here: http://www.bloomberg.com/data-visualization/federal-reserve-emergency-lending/

Bank of America whistleblowers cited examples of how Bank of America employees were administratively giving the run around to borrowers seeking loan modifications or due process on their foreclosure process. Any Bank of America employee that challenged these practices was fired. Further, the whistleblowers said that top employees were given bonuses for meeting foreclosure “quotas.”

For any of you that have dealt with Bank of America, whether as a borrower or as a buyer of REOs, you too have probably experienced the administrative nightmare of this bank. Please share your own experiences with Bank of America as either a borrower or a buyer of bank REOs. As I said in my last post on Bank of America, this is one bank that should have been allowed to sink.

This bank is essentially a government owned entity posing as a publicly owned company. Just like all of the communist and socialist, government owned enterprises found around the world, Bank of America is no different. Zero efficiency, administrative jungles, lack of competition, and co-dependency are some of the characteristics that make up these types of government owned entities. How is Bank of America any different? Read the entire whistleblower article here: http://www.huffingtonpost.com/ray-brescia/bank-of-america-whistleblowers_b_3464583.html

[Wayne Brooks]

"government owned entity"?
"socialist entity"?
Really?
B of A paid back all TARP monies years ago. No government ownership/control.
While there surely were abuses in their processes, ridiculous claims like this reduce the credibility of anything else you may say.