This article in Rolling Stone’s online magazine does not at all surprise me and only confirms my own experiences and opinion of Bank of America.
This little snippet pretty aptly sums up the character of this corporate behemoth.
Take your eyes off them for 10 seconds and guaranteed, they’ll be into some shit again: This bank is like the world’s worst-behaved teenager, taking your car and running over kittens and fire hydrants on the way to Vegas for the weekend, maxing out your credit cards in the three days you spend at your aunt’s funeral. They’re out of control, yet they’ll never do time or go out of business, because the government remains creepily committed to their survival, like overindulgent parents who refuse to believe their 40-year-old live-at-home son could possibly be responsible for those dead hookers in the backyard.
As always, you need to take what you read from ANY source with a grain of salt, however I have always felt that if you deal with them, you really deserve what you get.
I’ve made my views clear in the past
Bank of America – What’s not to trust?
Who do you love to deal with, and who do you not?
Hi Marc,
I thought you’d like the article. I agree it needs to be taken with a grain of salt but, by the standards of a good rant, it is very good. Like a funny stand-up routine, it wouldn’t work if so much didn’t ring partially true.
I also read this article in the Economist at the same time on hedge funds:
http://www.economist.com/node/21542452
Just for the record – I do all my own investing. Seems my money pile gets smaller when someone else touches it.
Cheers