Wednesday, March 28, 2012

Taibbi's Latest Punching Bag

The .01 percenters hate this guy.

Gee, I haven't picked on Bank of America lately. But then again, who can do that better than Rolling Stone scribe Matt Taibbi [above]? Matt, you see, has a thing for crony capitalists--and most particularly for the parasites permeating the financial sector. In this month's article he gives BofA the treatment:

"In sum, Bank of America torched dozens of institutional investors with billions in worthless loans, repeatedly refused to abide by contractual obligations to buy them back, evaded hundreds of millions in local fees and taxes, pushed tens of thousands of people into foreclosure using phony documents, ignored multiple court orders to stop its illegal robo-signing, and exploited President Obama's signature mortgage-relief program. The bank fixed the bids on bonds for schools and cities and utilities all over America, and even conspired to try to game the game itself – by fixing global interest rates!"

In other words, BofA outdid the squid. Complete story here.

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