Over at Truthout news analyst Nomi Prins has an incisive list of ten reasons you can't back on -- or with -- BOA.
Here are the ten reasons, but be sure to check out the full story since she provides some great analysis of each one of these points:
1. B of A rejects the right of customers to protest.As I said before, I am currently in the process of dumping my mortgage with BOA, and after all this I won't even park on the street in front of my local branch because someone might think I'm a customer. Screw 'em. If everybody takes action, and all the money flees the coffers of the bank, we'll see then who is "too big to fail"...
2. To recoup ongoing losses from its stupendously dumb acquisitions of Countrywide Financial and Merrill Lynch, B of A pillages its customers.
3. B of A's other fees are just as bad.
4. Bank of America takes gross advantage of the military.
5. Bank of America is officially rated the biggest, scariest bank.
6. B of A's derivatives position keeps rising.
7. Bank of America got the most AIG money of the big depositor banks.
8. Bank of America leads the big bank fraud lawsuit settlement tally.
9. Even after lawsuits, B of A would still rather please investors than customers.
10. Bank of America, despite having been buoyed up by the government, did not pay taxes, and, given its glorious ineptness, will be laying off 30,000 workers.