Record $37Billion Banking Fines

Discussion in 'Stock Market Forum' started by Casper, Aug 21, 2014.

  1. valiantx

    valiantx Member

    Joined:
    Sep 2014
    Posts:
    12
    Likes Received:
    0
    Yeah, and how is this entity called Bank of America going to pay this huge debt?! Oh right, from the people who put their money into Bank of America Banks; now that's what children would call "Passing the Hot Potato!" Seriously, this is why I don't have a bank account at these giant corporate banks, instead I opted for local credit unions; although such smaller banks ability to loan out is more limited and interest is less, at least I don't have to pay for a debt I didn't create.
     
  2. Profit5500

    Profit5500 Senior Investor

    Joined:
    Jun 2014
    Posts:
    572
    Likes Received:
    0
    Exactly what they would do since they are a massive financial business. I would never see a bank not be able to back up their claim when it comes to fines. So they being Bank of America are not hurting when hit with fines.
     
  3. Gelsemium

    Gelsemium Senior Investor

    Joined:
    Apr 2014
    Posts:
    937
    Likes Received:
    2
    $37 billion fine is a huge huge number, but this always makes me think, to have such fines what was their profit?
     

Share This Page