Comments on: ROTFLMAOPIP

By: ER

ER — Fri, 10 Jun 2011 01:16:46 +0000

I could never understand why anyone could possibly need a financial counselor.

Mr Micawber got it right, even if he never followed his own advice.

“Annual income twenty pounds, annual expenditure nineteen nineteen six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.”

Charles Dickens, “David Copperfield”

By: TB

TB — Thu, 09 Jun 2011 23:18:57 +0000

Pastry chef might work. You’ll have to fight about a million desperate law school graduates for a paralegal position. When gas is twenty dollars a gallon and the cakes you make go for $150.00 each, financial counselors will be hiding out from the lynch mobs in the swamps.

By: ER

ER — Thu, 09 Jun 2011 22:57:19 +0000

No problem, Tom. If my retirement gets wiped out I’ll just go out and get a job.

If I have to, I’ll go back to Jr College and study to be a paralegal, a pastry chef, or a financial counselor. I’ve got it all figured out

By: TB

TB — Thu, 09 Jun 2011 22:39:18 +0000

Ideally, the FDIC (a government corporation, not a government agency) is funded by insurance premiums and fees paid by the banks. But like Fannie Mae and Freddie Mac, there’s a certain “nod and a wink” to customers that the government will haul up tax money if it has to. There’s no law on the books requiring it, though.

They’re already printing up greenbacks by the megaton. Better hope your retirement setup has an inflation adjustment on it.

By: ER

ER — Thu, 09 Jun 2011 22:28:06 +0000

FDIC is one form of GOV bailout no Republican will ever threaten. Too many Republicans have money in the bank, and too many people who will never vote for Republicans if they lose their savings have money in the bank.

I’m counting on their vested interests coinciding with mine, for a change. They will print greenbacks by the megaton before they let BofA go under; or not let FDIC cover them.

The day FDIC goes broke, money will be the least of our worries. The coin of the realm will be cartridges.

PS. I have never had any problems with BofA. I’m an ADVANTAGE customer. Snoot, snoot.

By: Eri

Eri — Thu, 09 Jun 2011 20:54:44 +0000

Ha! Even you, with a vested interest, have to admit they deserved exactly what they got (and probably more). First they tried to foreclose on a home that had no mortgage, with obviously forged documents (they had to be forged since no mortgage existed) and all they had to pay was the attorney fees. They should have had to pay much more than that and whomever was responsible for the forgery sent to jail.

Ya don’t pay, ya face the consequences.

Personal note: I detest BofA and always have. My bank got eaten by them and I closed my account not long after and went to another bank, an independent small bank that weathered the crisis well because they are more conservative and didn’t have a huge list of defaults.

I learned about some of BofA’s “sharp” business practices including their credit card accounts and determined it would be a cold day in hell before I ever held one of their credit cards and entrusted my money to them. Or did any other business with them.

You’re just lucky you didn’t have to get your stash back through the FDIC.

By: ER

ER — Thu, 09 Jun 2011 16:25:55 +0000

Not funny, Eri. MY stash is in BofA,
if they go under only FDIC stands between me and ruin, and I’m starting to wonder about the soundness of FDIC.

Funny how having a “vested interest”
can change who you root for in these situations. I.e., BofA can be as predatory as they like as long as they take good care of my pile.

By: Eri

Eri — Thu, 09 Jun 2011 04:13:01 +0000

I’m amazed no one else has said anything about this. It is such a hoot that Bank of America got hoist on its own petard! I’d like to take that couple out for a drink.