Dear Bank of America, This is Why America Hates You

Nobody is forced to bank there. If you don’t like it, skip the protests and angry letters and withdraw your money. Simple as that.

Joshua provides a great service to the people by revealing how bank of america abuses their power and mismanages the bailout money that comes from us, the taxpayers. Once the people receive this kind of education, the people will have good reason to withdraw all of their money from bank of america. after all, bank of america’s stocks have plunged to their all time low..nearing the fault line for bankruptcy.

When I think of Brian Moynihan or Barabra Desoer, I think of the song by John Lennon called Piggies:
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So if it walks like a piggy, talks like a piggy, by golly it’s a PIGGY!
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WHERE IS MY LOAN MODIFICATION BANK OF DESTROYING AMERICA!
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BofA and it’s CEO Brian Moynihan reminds me of that song by John Lennon and George Harrison titled “Piggies” I invite you to listen to this song on youtube and see if it appropriately fits.
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http://www.youtube.com/watch?v=ovD9rTzs2q4&feature=player_embedded
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Have you seen the little piggies
Crawling in the dirt
And for all the little piggies
Life is getting worse
Always having dirt to play around in.
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Have you seen the bigger piggies
In their starched white shirts
You will find the bigger piggies
Stirring up the dirt
Always have clean shirts to play around in.
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In their ties with all their backing
They don’t care what goes on around
In their eyes there’s something lacking
What they need’s a damn good whacking.
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Everywhere there’s lots of piggies
Living piggy lives
You can see them out for dinner
With their piggy wives
Clutching forks and knives to eat their bacon.
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When I filed my lawsuit against Bank of America, I thought of the many others out there in the same situation. It was then that we decided to educate the public on what these piggy banks are doing, as well as unite us all together as one voice. Please help me turn this David vs. Goliath modification process, into a Goliath vs. Goliath.
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Please stand with me and Brookstone Law Firm, and send an email to Bank of Abusing America that states that we will no longer tolerate their potentially illegal, fraudulent, irregular and abusive business methods.
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So please send your email directly to Bank of America and include the following:
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1. Your name
2. Your complaint concerning your experience with Bank of America.
3. Please end your email “I support John Wright vs. BofA Lawsuit!”
4. Please send a copy of your email to piggybankblog@earthlink.net
5. Please send your email to BofA CEO Brian Moynihan:
brian.t.moynihan@bankofamerica.com
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I HAVE HAD ENOUGH AND I AM FIGHTING BACK!
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I have created piggybankblog.com for all of those who have been abused by Bank of Destroying Americas potentially irregular, fraudulent and simply abusive home loan modification process.
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Divided we might have fell America. UNITED WE MUST STAND!
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http://www.youtube.com/watch?v=PoOJMr7OJ0s
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My name is John Wright AND I AM FIGHTING BACK!
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John Wright
piggybankblog.com

I love Bank of America, they treat me well and I am not alone. Get over the big bonuses, it happens everywhere across the world. I am sure you don’t appreciate when people tell you how to spend your money, why do you have a say in how BOA spends their money? What gives you the right to get upset? Just because it is a large amount of money and they are a huge corporation, it does not give you the right to determine how they spend their money. What if the public was able to determine whether you deserved to get paid for each crappy article you write?

I suggest that everyone complaining about the $60 annual checking fee get a shoe box to hold your money. I don’t expect to get free services like Molly Katchpol and others do. If you can’t carry a balance in your account that a bank can at least cover their maintenance costs if not profit from, then why do you deserve free checking? Do you work for free? They why do you expect anyone else to work for free? Free checking is a privilege; I currently receive it because I meet the minimum monthly deposit. Otherwise, I would pay $5 per month for my checking. It costs money to build, maintain and improve online banking, perhaps millions of dollars. It costs BOA money to build the banks, provide checks, make debit and credit cards, pay their employees, build and maintain ATM’s and all the other costs that are associated with providing banking services. People who struggle to pay $60 a year most likely struggle in their day to day life and never have a daily balance large enough for the bank to make $1 off of them after you factor in all the operating costs. Leave the bank if you choose, go to another that may follow suit and start charging fees after BOA takes the heat. Take your check to a grocery store and pay the 10% fee to get it cashed. Use the ATM, no fees on them. No, this is not enough.

Hmmm… are you just another deadbeat who can’t pay the mortgage they committed to pay? Are you living beyond your means and want to blame someone else for your failures? Did you read your mortgage docs? Did you sign on the dotted line? Should you still be renting because it is a more logical solution for most people? Please site examples when referring to “potentially illegal, fraudulent, irregular and abusive business methods”. I see you are able to quote lyrics to a song, you must have specific “potentially illegal, fraudulent, irregular and abusive business methods” that you can give me.

BOA paid back their $45 million in bailout money. Interesting how we expect the banks to lend us money whenever we need it, but if they need a loan we think this is outrageous. How were you directly affected by the bailout money? Did you even notice that you paid it? Where would we be right now if we didn’t provide bailout money to those who needed it? What were the alternatives to bailout money? Can you answer my previous 2 questions?

“Scratch my back and I will scratch yours.”

Or everyone could do the sensible thing, and join a credit union with no fees, get ATM card usage free, free checking, no overdraft fees, and get money for putting their funds there. What a concept! Actually having a say in how your financial institution is run and getting a share of the money made!

You have had that choice all along, why weren’t you using one in the first place?

This is my favorite part of the above comment: “no overdraft fees”. Same people complaining about the $60 fee have the nerve to complain about overdraft fees. Overdraft means you didn’t have the money in the 1st place to pay for what you bought. Why should a bank offer this service for free?

Although this is a good topic to write about (Bank of America), Mr. Brown’s anger rant shows his inexperience and lack of understanding of the bank’s real issues as well as others in this sector. A pay separation for senior executives of a “public” company is not the bank’s overall underlying issue, those were in market employment contracts.

Mr. Brown, start with the Board of Directors, former management, government regulation that allowed them to short change their shareholders and the general public, then you will be on to something real.

Exactly — this is a nice attempt at articulating what Occupy Wall Street thinks about everything but the real heart of the BoA problem is obscured by reactionary sensationalism. BoA isn’t unique in their new fee, most major banks are implementing some sort of new account fee designed to make up for lost revenues thanks to recent usage fee cap legislation. Why BoA has been singled out is beyond me. (My bank, Regions, is implementing fees that are much more tightly targeted at the lower-middle and middle classes and are far more offensive than BoA’s fee stipulations but that’s just me.)

Why I’m mad (I won’t attempt to speak for the entirety of America) is that the financial reform act was supposed to prevent gouging the customer like this, and instead caused a fresh new fee that does exactly what it was meant to prevent. Now there’s another round of legislation in the works to legally make banks feel regulatory pressure for instituting these fees, and I doubt any major changes will actually come from it. The end result is a lot of government time wasted attempting to micromanage banks with overrreaching regulations that will be notoriously weak thanks to subpar federal regulators that allowed the financial sector to go unchecked and caused the economy to tank in the first place. After this second round of legislation finally slogs through the necessary channels, banks will have already figured out another workaround.

Why people should be mad at BoA is because — like many other major financial sector players — bailout money was invested back into government bonds and cashed out for a profit. The bailout money was a one-time revenue boost that wasn’t entirely needed to maintain operations. A lot of it was, but certainly not every last cent. That extra cash was flipped back onto the government, effectively putting *more* tax dollars back into bank pockets. Banks have all this extra money to pay out to failed managers because they’ve been playing Roulette with federal bonds with the odds in their favor.

“Scratch my back and I will scratch yours.”

I wouldn’t turn my back to BOA for a million bucks. Are you going to sing the same tune when you get your pink slip along with 30,000 of your coworkers?

it’s easy to pay back government loans when you can simply roll the balance over into your account at the Federal Reserve, borrow enough money at 0% to pay back TARP while also collecting 3% interest on that Fed account.

“Get over the big bonuses, it happens everywhere across the world. I am sure you don’t appreciate when people tell you how to spend your money, why do you have a say in how BOA spends their money? What gives you the right to get upset?” – because they wrecked our economy, caused millions to lose their jobs, took billions in TARP and tens of billions in 0% interest loans from the Fed, illegally foreclosed on thousands of citizens, gamed our political system by buying politicians, gamed our tax code by spending millions on lobbying, AND have implicit & explicit backing from the US taxpayer via FDIC and Too-Big-To-Fail all while paying senior execs tens/hundreds of millions of dollars. all that said, no one went to jail, no major reforms have been enacted, and they continue to spend more and more on campaign contributions and lobbying.

“What if the public was able to determine whether you deserved to get paid for each crappy article you write?: – THEY DO. Not everyone enjoys TBTF status where your market performance doesn’t matter. if the author writes back articles, no one clicks on them and they are fired. if bank of america makes bad business decisions, they are bailed out and continue on their merry way.

“I suggest that everyone complaining about the $60 annual checking fee get a shoe box to hold your money. I don’t expect to get free services like Molly Katchpol and others do. If you can’t carry a balance in your account that a bank can at least cover their maintenance costs if not profit from, then why do you deserve free checking? Do you work for free? They why do you expect anyone else to work for free? Free checking is a privilege; I currently receive it because I meet the minimum monthly deposit.” – OF COURSE ITS NOT FREE. but if a bank can’t take my money, pay me 0% interest on it, leverage it by a factor of 10, charge between 10-40% interest on that 10x amount money loaned out, turn a profit, AND provide the service at no charge, they are doing something wrong. free checking is only a privilege when the banking sector has been monopolized or, more accurately, is run by cartels.

“Piggies” is a George song, not John Lennon.

$11 mil will pay for 183,333 BOA’s customer’s $5/MO debit card usage fees for a year.

Where is the outrage for Fannie and Freddie severance packages paid to Raines and Gorelick who were kingpins in the mortgage debacle? It dwarfs $11 million easily….try nearly $100 million of tax payer dollars.

Banks are in business to make money for their shareholders. Consumers are free to choose the bank they want to hold their money. Don’t like B of A? Find another bank…

The enablers are the politicians like Frank, Dodd, and Obama who have historically taken huge contributions from the banks (Obama received more from Wall Street than anyone else, Repub or Democrat)…in order to get special treatment. Maybe when we punish the politicians the banks will lose some power.

So top whining about the banks. Fire the politicians and move your money to a credit union. Only then will they get the message.

This is what happens to a company when it becomes a juggernaut. A monolith, too big to handle. BOA serves the Americans based on how American he or she is. If you don’t have enough money, don’t bank with BOA.

BOA paid Ken Lewis almost 53 million dollars. Aha, the same man who started the down slide with insane Merrill Lynch acquisition. Brian Moynihan is certainly better than his predecessor. Still Merrill was a better proposition that Country wide. Moynihan is better that he doesn’t go for blind acquisitions.

The real problem with BOA is that it is no more Giannini’s bank. It caters for people who can afford it. If you don’t have enough moolah, you will be charged with fees whether it is od fees, account fees, check fee and on and so on. Don’t believe me! I used to be an employee with the bank almost 5 months back.

I’m sorry i didn’t read anything after you asked “what gives you the right to be upset?”

Tim, where is all the data behind your numbers?

Even if what you say is true as far as you need enough money to bank with BOA, what’s wrong with that? Bottom line, it is a business and no one gets into business to lose money. Go to one of these AWESOME credit unions everyone is talking about but no one seems to be using them. So many people are “switching” to a credit union, but why now and not in the past? Something tells me BOA is going to be just fine after all is said and done.

Pretty much sums up what I was saying. Well, for money, I care least about your identity . Every business is for money. Long live capitalism. We don’t was liberal fascism.

Whose money is there in the bank? May be mine. lol

BOA Supporter – are you a shill for the financial community in general or just BOA? Methinks you’re a paid hack who prowls the web and does battle with any and all who would attack your masters.

Or do you just have a BOA fetish?

I’ve never known anyone to love a bank as much as you love BOA. Even people who work at banks don’t love them like you do.

Fed Bailout: http://www.federalreserve.gov/monetarypolicy/bst.htm

Fed Bailout 2: http://www.federalreserve.gov/newsevents/press/bcreg/20090116a.htm

TARP Bailout: http://projects.propublica.org/bailout/entities/27-bank-of-america#payments_table

Lobbying & Contributions: http://www.opensecrets.org/orgs/summary.php?id=D000000090

Robosigning & foreclosure fraud: http://thinkprogress.org/economy/2010/10/28/173602/bofa-signer-no-idea/

BoA Exec Comp: http://insiders.morningstar.com/trading/executive-compensation.action?t=BAC

that should be enough to get you started…

LOL, I have a thing for PNC and US Bank as well. All 3 take good care of me and I am not a wealthy person by any means. I also have some BAC stock which is down with all the bad press.

Well put. iBark360 too. The gov’t is no good at micromanaging anything, but it can be darn good at implementing policy. The policy here, plan and simple, should again be to get people into housing. The whole gov’t-backed and stimulated system worked pretty well for 50 years, built the American middle class and made the U.S. the model of prosperity many the world over aspired to. Them some diabolical (or colossally stupid) policy wonks and politicians gutted the regulations that separated banks and investment firms, which let a very malicious genie out of the bottle.

While Ann Coulter and Fox and BOA Supporter insist the recession was caused by poor people who defaulted on mortgages, it’s clear to Joshua Brown, the Occupy Wall Street crowd and me it was a business culture of unconscionable greed aided and abetted by Washington complicity at every level, from the lowliest under assistant lobbyist to the Senior Senator from Oklahoma. So many had their sticky fingers in the pockets of the lower and middle classes few if any will be held accountable. And it continues, as BOA practices make abundantly clear.

What’s particularly galling is that Sallie Krawchuck and Steve Schwartsman and Robert Ruben and Sandy Weil, to pluck a few egomaniacal greedheads at random, think they deserve the riches that fell out of the sky into their laps. At best they won the lottery; at worst they are thieves who saw the bank vault open, helped themselves and now say, Gosh, everybody else was doing it, why pick on me?

I give, you win. I am bored with this already…

Now go out there and make a difference!

BOA manipulates how transactions are debited or deposited into your account and the way they do it causes overdraft fees, I can prove it to you, which is why I hate BOA and the fact that they talked my mother into a reverse mortgage and then took her home away from her, they suck