Bank of America has become the poster-child for corruption and incompetence ever since they took a taxpayer-funded bailout to save themselves from their own incompetence. They then took that bailout money and paid record-breaking bonuses to their executives, and raised fees for their own customers. And today, it looks like the company is poised to repeat history again. Sam Seder talks about the next round of troubles facing Bank of America with William Black, author of the book "The Best Way to Rob a Bank is to Own One."
Additional: the best way to rob a country is as follows...
It's (Re-Re-)Official: L-Pap Is PM
To everyone who was hoping the latest Greek PM would be a double letter, triple word score game killer in Scrabble, our apologies. In the end the ECB's puppet ended up in control, just as initially expected. Kneejerek reaction in the EURUSD higher which will be promptly faded and all that jazz. Fact is nobody cares about the ECB/Fed protectorate known as Greece any longer.
From WSJ:
Lucas Papademos, a former European Central Bank vice president, has been named Greece's new prime minister, senior officials from Greece's main political parties said Thursday."It's finally over, we have a new prime minister," a senior socialist party official said. "Mr. Papademos will be sworn in today." An official from the conservative opposition party said an "agreement has been reached on Mr. Papademos to become prime minister and he has accepted.""Senior members from both parties will make up Mr. Papademos's cabinet," he added.