BofA, Congress: GET AN EARFULL!

OBGYN="OldBankGodYourNemesis"

Isn't it funny? I've worked in finance/banking from one 'angle' or another most of my life, and have seen a gazillion people take-out a loan, then 'party like it's 1999,' to borrow lyrics from an old Prince song.

You pay it back, right? (Or at least try to). It's 'your-money,' right? So if you take-out that 'equity-loan' or whatever, to 'fix up' or 'shore up' or 'prop up' your family 'business,' be it home improvement or whatever, alot of money goes towards 'house-reopenings' and 'ribbon-cutting' and 'bonuses to yourself/friends/family/spouse' because, 'suddenly,' you have 'extra money' to buy all those things YOU wanted, with a new loan to 'free-up' your spending, so why not 'help-out' your friend, or relative or neighbor? And after the 'business-expense' of 'neighbor-relations,' well, 'justify' it by saying, " ... it's not the loan money, it's my own money I used for that party, that new car, that new entertainment-center, that new computer, that new set of furniture, that party ..." or whatever?

Isn't that the way it works for YOU?

For most people it does. For most LOAN RECIPIENTS it does.

It's YOUR MONEY, right? You pay it back, right? That's what interest is all about, right? That's why finance is called PRIVATE, and protected by law, RIGHT?

How 'bout when banks do it?

When banks get a loan from YOU, the taxpayer, and use THEIR MONEY to give bonuses to hardworking employees, and hold special parties of gratuity, what do YOU say to THEM?

Huh?

The double-standard is promoted mostly by our own hateful Congress, who doesn't 'borrow' money from future-taxpayers, it just 'debtor-prisons' all future generations before the those 'future sons and daughters' of YOURS even take their FirstBreath, unrepresented to be certain -- the REAL TRUTH behind the collussion between our own hateful Congress conspiring with religions to deem nonbreathing FAKE 'people' and two-cells in a flippin' test-tube as 'equal' to YOU.

But when government 'loans' money to YOU, or a business, bank or whatever, suddenly the double-standard HITS HOME like nuclear fallout, from every direction conceivable.

Remember the big photo-ops with 'outraged' Congress people accusing Auto Execs and Bank Execs and everybody ELSE of 'squandering money'?

It's like a bad-comic strip or B-movie written by the Writers' Union, and our own hateful Congress is following it, like cloned-robots.

Are those 'democrats' or 'republicans' or is it 'democraps' and 'repugnicons'? What's the difference?

Look:
"Bank of America Corp. has made a $402 million dividend payment to the U.S. government as part of the bank’s participation in the Troubled Asset Relief Program."

You tell me, how often do you pay your first loan-payment that QUICKLY?

Instead of using your 'extra money' (no such thing, btw) to pay back the loan, you went shopping, bought yourself 'toys' and 'gifts' and 'luxuries.'

BofA didn't. They just paid-out the largest payment to US, EVER.

I'm proud of BofA.

Look at the rest of it:

"BofA said total cash dividend payments to the government this year will reach $2.8 billion."

And how much 'extra money' did YOU NOT SPEND, paying-back YOUR obligations to banks?

Do you have any idea how much money $2.8 BILLION dollars is? Do you understand the sacrifice? It would be like YOU and YOUR FAMILY using Bic Lighters to see in the dark, taking cold showers, and never using any electronic appliances, such as TVs and computers and stereos or refrigerators, because it 'reduces repayment-amounts' to your creditors.

ALSO, that level of 'sacrifice' allows you to reward the other members of your family a 'bonus' for making that 'sacrifice' to begin with.

BofA also extended another $115 BILLION in NEW CREDIT to help YOU and YOUR FAMILY, whomever 'you' may be. That's LEVERAGING the $45-billion it borrowed from US to do it. Have you ever taken-out a loan only to loan-out 3-times as much as you borrowed, knowing fully-well those whom you gave money to have a propensity not to pay it back? But you have to pay back all of it? Including the interest, including the amounts you 'loaned-out,' including the BS that goes along with it?

It's spooky-business, these days.

Look at what BofA CEO Kenneth Lewis said:

"“It is our intention to pay back these loans, as soon as possible,” said BofA CEO Kenneth Lewis. “In the meantime, we are using these funds to support the U.S. economy by extending credit to individuals and businesses.”

There's more about that from BizJournal at the following link if you are interested:
http://atlanta.bizjournals.com/atlanta/stories/2009/02/16/daily29.html?ana=yfcpc

So, "OBGYN," redefined. :lol: 'cause that FalseGod needs be slain before thee.

Again, I'm proud of BofA. Bank of America is doing a whole lot of good stuff. In order to survive it, however, the 'belt-tightening' needs to extend to the equivalent of the example I wrote above, "Bic Lighters to see in the dark, and not using stereos/TVs/computers, etc." What I mean by that is what I told BofA in the 90's, which they ignored, and had they listened would not have spent enough billions-of-dollars to now sit on 'toxic-assets' and pay earnings to investors without borrowing money from Congress AT ALL. Perhaps they are listening now? Then I should be compensated right back to the last moment I walked-out their door.

Meanwhile, not only our own hateful double-standard-ized Congress needs a REALITY CHECK.

Kind Regards,
Clayton Winton (HFA/3Ons/TUT/RoR ...AndMore)