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Bank Of America Sends Internal Email Exposing Where The "Occupy" Movement Is Hurting It Most

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Tue, 12/06/2011 - 14:30 | 1951715 J 457
J 457's picture

Another deadbeat bites the dust.  Guess they couldn't handle the responsibility after all.  Although I'm sure they were quite happy to go shopping for their new Hummer and SeaDoo when they had the HELOC and easy credit was flowing.  Maybe instead they should have enrolled in a basic "how to manage personal finance" class at the local JC.  Irresponsibility comes with a price- so now they can go live under a tarp alongside the freeway?  Maybe they can live with you, the smart guy with all the ideas? 

People just don't think things thru anymore.  We're in a country of fools.

When you destroy the home- who pays?  You do.  Who owns the note- probably FHA or FNM. Who is backstopping the GSE's- you are.  Who is backstopping BAC - you are.  Unless you pay no taxes, you will inevitably pay in one form or another.

So when you go to buy your next vidoe game, or whatever it is you buy, and you pay tax for the purchase, you are paying (indirectly) for the damage caused to the home.  Get it? 

Or perhaps the logic is; when you have nothing, you have nothing to lose, so you want to destory everything around you to express your sentiment.  Reminds me of the inner-city ghetto mentality.  Rodney King riots, Katrina riots....that accomplished nothing. 

 

 

Tue, 12/06/2011 - 16:20 | 1952324 waterhorse
waterhorse's picture

So where do the people who bought what they could afford and then subsequently lost their jobs fit into your narrow categories?

Tue, 12/06/2011 - 18:45 | 1952928 Omen IV
Omen IV's picture

Ace - #457

so i know a corporation with Balance Sheet  equity of $1.5 billion - that has a subsidiary that defaulted on a RE loan for a strip center and walked - no guarantees /  no cross default - so they did what they did  - because the values and cash flows were upside down

they did what they should do for themselves - so pray tell what is your morality tale on this one 457?

  

Tue, 12/06/2011 - 23:43 | 1953626 cbxer55
cbxer55's picture

I never said to destroy the home, and they did not. They were good neighbors for many years, with four young children,  who ran into some bad luck. I hated to see them go. They had to file bankruptcy when he was unable to find gainful employment after being layed off. They left the house, but apparently went around the place and made sure every frikkin light was on in the whole place before leaving. Who knows about the gas or water?

I did not say I would like to do this, but if put in the same situation I probably would as a parting shot. My mortgage is up to date and has never been behind, even though I was out of work for 11 months in 2009, and my wife was out of work for 9 months the same year. But it was SO CLOSE to us being in the same situation. Another couple of months and my unemployment was out, no 99 weeks in Oklahoma.

Tue, 12/06/2011 - 14:35 | 1951749 flattrader
flattrader's picture

I think the whole point of this is to not leave at all.  Get it?  Occupy?

Tue, 12/06/2011 - 14:59 | 1951862 J 457
J 457's picture

OK Got it. There are zero foreclosed homes in my neighborhood to "occupy" so I'll be there with you in spirit.  But if a home becomes REO, I'll hurry up and let you guy's know so you can dispatch the OWS, rush right over, squat, and fix the place up real nice.  I'm sure you'll be good friendly neighbors and the place will look just like that cool looking park in New York you've taken such good care of. 

Tue, 12/06/2011 - 16:21 | 1952335 waterhorse
waterhorse's picture

Wow, what a gush of used douche fluid.

Tue, 12/06/2011 - 12:28 | 1951090 john39
john39's picture

the threat alone is enough to further depress the housing market and the price someone might be willing to pay for a foreclosed house.   also makes it increasingly difficult for banks to sit on empty foreclosed properties.  Seems like OWS is getting smarter...

Tue, 12/06/2011 - 14:11 | 1951297 flattrader
flattrader's picture

http://act.engagementlab.org/event/occupyhomes_D6/search/

In my urban dwelling days, a number of citizens occupied/squat in homes that had been abandoned and returned to the city for back taxes.  The city had these for sale at riduculously high prices compared to the need for costly rehab to bring them up to code.

A number of my friends decided to squat, clean up the homes, help the neighborhood...etc...

The city was furious and ordered the the housing inspectors and police to cite and evict.  Oddly, the inspectors and cops couldn't mange the citations or evictions as those homes had no addresses posted on them...not to metnion the new squatters were better than the old drug dealers who would party in the vacant homes.  The neighbors thought so too and everyone felt safer...including the building inspectors and cops.

After a few "occupy" events covered by the media, the city quietly "sold" the properties to the "squatters" for a fraction of what they were initially asking.  Everyone involved was told to never speak of it again.

And...they all lived happily everafter.

Tue, 12/06/2011 - 14:16 | 1951624 11b40
11b40's picture

Yes, OWS is getting smarter and more focused.  I hope they will stay that way.  Them, along with their counterparts in the Tea Party, have changed the dialog in America.

Right now, the House is debating a bill to make it illegal for Congress and staffers to trade on inside information.  This is not because they WANT to do this, but because they have been called out on it.

All around the country, there is also a movement at local levels to call out the Supreme Court and Congress on campaign finance laws and an attempt to re-evaluate and change the way corporations are treated as "persons".  We still have the power to force change, but the operative word is "force".  It does not have to be through violence; only civil action is required.

http://www.huffingtonpost.com/2011/12/05/move-to-amend-la_n_1129725.html

 

Tue, 12/06/2011 - 14:33 | 1951733 flattrader
flattrader's picture

>>>Right now, the House is debating a bill to make it illegal for Congress and staffers to trade on inside information.  This is not because they WANT to do this, but because they have been called out on it.<<<

STOCK Act.

http://insidertrading.procon.org/view.resource.php?resourceID=004520

112th Congress - Senate                                                  S 1903 (Nov. 17, 2011) Summary No summary available as of Dec. 1, 2011 Sponsor Kirsten Gillibrand (D-NY) Co-sponsors (12 D, 3 R) Max Baucus (D-MT), Richard Blumenthal (D-IL), Sherrod Brown (D-OH), Benjamin Cardin (D-MD), Richard Durbin (D-IL), Mike Johanns (R-NE), John Kerry (D-MA), Amy Klobuchar (D-MN), Claire McCaskill (D-MO), Bill Nelson (D-FL), John Reed (D-RI), Marco Rubio (R-FL), Olympia Snowe (R-ME), Debbie Ann Stabenow (D-MI), Jon Tester (D-MT) Status Nov. 17, 2011 - Read twice and referred to the Senate Homeland Security and Governmental Affairs Committee
Tue, 12/06/2011 - 19:45 | 1953050 smiler03
smiler03's picture

Interesting 

 

Tue, 12/06/2011 - 12:31 | 1951095 RobotTrader
RobotTrader's picture

BAC is going to be broken up and sold piecemeal.

Merrill Lynch will be bought by Travelers

Southeastern banks bought by SunTrust

Texas banks sold to JP Morgan

All other pieces will be gobbled up by foreign banks.

California banks will be packaged up and brought public as a new bank under a new name.

Probably worth about $12/share

Tue, 12/06/2011 - 12:38 | 1951130 Johnny Yuma
Johnny Yuma's picture

I agree with this. I've been pounding the table about this for a while as well. You would think there are plans in place to execute them. Wouldn't be suprised if they're finalizing all the takers at this point. They've already split the bank in half between commercial and consumer. Some interesting inclusions were that Merrill's brokerage was moved away from the IB technically to the consumer bank side. This would definitely support your theory of an acquisition by another firm that is looking to establish a brokerage presence. Travelers makes sense among a few others. The deposits will most likely be split up by states as BofA's internal deposit systems vary by state any way which makes perfect sense. U.S. Trust (or whatever is left of it) will probably go to Credit Suisse from what I've heard but who knows. The mortgage unit will be crushed and whatever's remaining will be acquired by another bank as well. The IB and commercial bank side may be a new entity run by Montag. He's been frothing at the mouth for a CEO position for quite some time. 

Tue, 12/06/2011 - 14:29 | 1951702 11b40
11b40's picture

They might want to hurry up with their plans.

OWS is packing it up for the winter in most places.  After all, living outside in the cold sucks.  But, then comes spring with all it's glory, and 2012 is a politically charged election year.  If their primary focus somehow morfs into "Bring Back Glass-Stegal", Travelrs might not be the one to buy Merrill ;-).  In fact, what will all these pieces be worth if the license to plunder is removed?

Let's face it.  If enough people become aware of the shitstorm released on the public by this one change in the law 12 years ago, Congress may be forced into action....and it could become a campaign trail issue.  What if OWS types start showing up at every major campaign event with chants of Bring Back Galss-Stegal?  The media becomes forced to cover it, and people become more aware.  Once examined, there is no way for any politician to smear lipstick on this pig and sell it.

Tue, 12/06/2011 - 12:41 | 1951139 mess nonster
mess nonster's picture

All other pieces will be gobbled up by foreign  Chinese banks.

 

Tue, 12/06/2011 - 12:44 | 1951150 CvlDobd
CvlDobd's picture

Why didn't you tell me when BAC was at $12 so I could get some at fair value.

I still am waiting for my BSC to get back to the $80 book value all the analysts sai it was worth march 1, 2008.

Tue, 12/06/2011 - 12:44 | 1951152 LawsofPhysics
LawsofPhysics's picture

Don't start making sense now Robo, the sheeple don't want to hear it and are not used to that side of you.

Tue, 12/06/2011 - 12:49 | 1951172 Stax Edwards
Stax Edwards's picture

That is exactly what I was thinking.  This is obviously different.

Tue, 12/06/2011 - 14:17 | 1951633 GrinandBearit
GrinandBearit's picture

He's making fairly logical predictions rather than ridiculous hindsight comments. 

Astounding!

 

Tue, 12/06/2011 - 19:54 | 1953075 smiler03
smiler03's picture
Well somebody else was going to do it. Captain Hindsight! http://www.youtube.com/watch?v=jyb1KYiFkBM
Tue, 12/06/2011 - 12:45 | 1951158 junkyardjack
junkyardjack's picture

I'm sure it will all work out in such an orderly fashion like that.  When BAC announces sorry everyone we're bankrupt and the masses collapse on the bank to pull their deposits out, I'm sure everything will be under control...

Tue, 12/06/2011 - 12:48 | 1951168 LawsofPhysics
LawsofPhysics's picture

Capital controls are already in place.  If you can find someone with money still at BofA, have them try to remove all their funds at once.

Tue, 12/06/2011 - 13:34 | 1951358 Saro
Saro's picture

the masses collapse on the bank to pull their deposits out

They don't call it the "holidays" for nothin'.

Tue, 12/06/2011 - 12:51 | 1951180 Stax Edwards
Stax Edwards's picture

Is this just more of the usual vomit you are spewing or do you have reason to believe this is being considered?  

Although more intelligent sounding than usual, my money is on vomit.

Tue, 12/06/2011 - 13:03 | 1951222 riley martini
riley martini's picture

 Which part gets the billions in fraudulent mortages with the  law suits and which part gets the $trillions in derivitives. Answer The American workers, pensions , c.harities, schools  instutional bag holder . The bonsuses and bribes will go to the best politicians and banksters .

Tue, 12/06/2011 - 15:36 | 1952078 DaveyJones
DaveyJones's picture

I was thinking more, you take the head, I'll take the kneecaps

Tue, 12/06/2011 - 12:30 | 1951096 SheepDog-One
SheepDog-One's picture

Cancer of America says to not engage the protestors? The protestors should engage the bank 'field agents' and beat the puddin out of them!

Tue, 12/06/2011 - 12:30 | 1951101 AngryGerman
AngryGerman's picture

The email is a fake one to be "leaked" to the public.

In the original email it said:

1. Your safety is our primary concern. So stay away when police is called in to pepperspray the shit out the hippie-protesters.

2. While in neighborhoods, please take notice vacant BAC Field Service managed homes and ensure they are secured by running over any protesters in front of these properties. Make sure to back up to finish the job properly.

3. Remind all parties of the bank's media policy and report any media incidents to 0800-796-8448 or email at pressroom@bankofamerica.com, so we can intervene and make sure that any reportings related to the above point 1 and 2 do not make it to the public.

Tue, 12/06/2011 - 12:31 | 1951103 Johnny Yuma
Johnny Yuma's picture

Pavlov's response?

Tue, 12/06/2011 - 12:36 | 1951114 Mercury
Mercury's picture

"Where's my free shit at?"

Tue, 12/06/2011 - 13:20 | 1951292 chunga
chunga's picture

"Where's my free shit at?"

Might I impose on you to watch this nine minute video by Neil Garfield and tell me if it changes your opinion on who is getting "free shit"?

Foreclosure Defense - What You Need To Know

Tue, 12/06/2011 - 14:21 | 1951659 MachoMan
MachoMan's picture

the teets are sucked at all strata of the socioeconomic ladder...  who is getting the free shit?  Everyone...  some just complain their payments are less than others.  Doesn't change their penchant for prostitution.

Tue, 12/06/2011 - 16:09 | 1952255 chunga
chunga's picture

Key half ass transcript from the video:

The reason they need a default is they have insurance for a default. They have no insurance for a modification.

And, get this, imagine you could get insurance on your house for the full value...and then you could buy another thirty policies just like it.

They call that leverage. They insured those pools that they knew were going to fail, because they created them to fail...they insured those pools 30 thirty times over.

So, if you had a $300k mortgage...courtesy of the US govt. to AIG and AMBAC, they were paid off 9 million dollars on a $300k mortgage.

That is what they are hiding and why they resist discovery efforts.

Tue, 12/06/2011 - 16:22 | 1952342 MachoMan
MachoMan's picture

Avoiding answering the question.  Moral legitimacy will only be available to those actors who confess their sins before seeking remedy (aside from the fact that, practically speaking, the margins don't want to join efforts spearheaded by people who were prolifigate or unwitting spenders).  I'm not saying all sins are of equal weight, but don't throw stones...

Again, people are simply complaining that others are getting more...  and are gaming the system better...

Fix the system, cure the equity theory whining.

Tue, 12/06/2011 - 16:59 | 1952578 chunga
chunga's picture

Problem is...one side of that type of transaction doesn't see a problem with the system. It's perfect.

And with the type of money we are talking about - there is plenty of room in there to persuade anyone with the power to change the system to agree...lol.

Tue, 12/06/2011 - 20:06 | 1953122 MachoMan
MachoMan's picture

Right, the problem is that the plebs don't advocate for a changed system, only different people at the helm.  I'll posit that neither really materially sees a problem with the system...  just like rampaging greeks...  the system is spectacular...  why must it end?  You mean there's like a bill due n stuff?

Why don't we anticipate problems in advance and act to counteract these negative trends?  An ounce of prevention...

I generally don't care to advocate in favor of our founding fathers (being the racist and elitist pieces of shit many of them were), but one thing they did understand was human nature...  they really got the big picture insofar as how human nature interacts with governance.  Ultimately, the system only works as long as people remain vigilant.  The problem is that the plebs have accepted too small of tribute payments and they made a deal with the devil (changing the rules of the game when the dice are in the air).

But no, you should refine your statement...  the only "problem" the plebs see with the system is that their free lunches aren't big enough...  When I hear people saying "I DONT WANT MY FUCKING SNAP BULLSHIT OR I DON'T WANT TO BE DEPENDENT UPON ANYONE ELSE, I JUST WANT A DECENT WAGE AND I WANT TO WORK ALL DAY, ALL WORK WEEK...  I JUST WANT A LEVEL PLAYING FIELD, WHICH CARRIES NO GUARANTEES," then I'll get excited...  until that day, I'll be waiting for the mob to cross the threshold into my home. 

Wed, 12/07/2011 - 04:18 | 1954086 StychoKiller
StychoKiller's picture

Can I retain your counsel when BAC/Fannie/Freddie aren't able to send me the note on our house when the last payment gets sent out next October?

Wed, 12/07/2011 - 11:12 | 1954774 MachoMan
MachoMan's picture

Maybe.  Are you in Arkansas?

 

Tue, 12/06/2011 - 14:37 | 1951763 TheFourthStooge-ing
TheFourthStooge-ing's picture

"Where's my free shit at," whined Jamie Dimon in a petulant frenzy.

 

Tue, 12/06/2011 - 12:38 | 1951108 Mercury
Mercury's picture

Tuesday, December 6th is the National Day of Action to stop and reverse foreclosures. The Occupy Homes movement is holding actions around the country in support of homeowners and people fighting to have a home...

Oh great, here comes the  "housing stamps" entitlement...

Just in case there was any doubt in your mind which end of the less<-----> more government spectrum OWS occupies...

Tue, 12/06/2011 - 12:33 | 1951111 Deo vindice
Deo vindice's picture

Disrupting the Bank's money flow through the lending / foreclosure cycle is like shutting down the distilleries for an alcoholic.

The bankers are going to get the tremors over this.

Tue, 12/06/2011 - 12:58 | 1951197 chunga
chunga's picture

Good.

Tue, 12/06/2011 - 12:34 | 1951117 karzai_luver
karzai_luver's picture

They could do BAC and the country a favor and  burn them all to the ground.

If they start in the right hoods they may get a few banksters on the side.

 

 

Tue, 12/06/2011 - 12:34 | 1951118 SheepDog-One
SheepDog-One's picture

'This could impact our industry' yea the 'industry' of taking free money and lending it out at interest, the only way these worthless parasites know how to make a living, and that is now americas leading 'industry'...lol pathetic.

Tue, 12/06/2011 - 12:37 | 1951127 Spastica Rex
Spastica Rex's picture

At Bank of America, safety is job 1.

Tue, 12/06/2011 - 12:48 | 1951167 SheepDog-One
SheepDog-One's picture

After all, it IS an 'industry'...LOL

Tue, 12/06/2011 - 12:39 | 1951135 Robslob
Robslob's picture

 

 

Lol...and for the rest of America?

 

www.youtube.com/watch?v=OmOe27SJ3Yc

Tue, 12/06/2011 - 12:42 | 1951141 lolmao500
lolmao500's picture

I suggest we all post this in OWS forums and spread it around... like to Drudge and FARK.com... and that kind of liberal websites. Make this go viral!

Tue, 12/06/2011 - 12:42 | 1951144 homer8043
homer8043's picture

I'll just leave this here courtesy of Funny or Die.

http://www.funnyordie.com/videos/a67b43df0c/thanks-bank-of-america

 

Do NOT follow this link or you will be banned from the site!