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Tag: Bank of America

Matt Taibbi – Bank of America: Too Crooked to Fail

“So they asked the bank to move a chunk of that mess from Merrill Lynch onto Bank of America’s own balance sheet. Why? Because Bank of America is a federally insured depository institution. Which means that the FDIC, and by extension you and me, is now on the hook for as much as $55 trillion in potential losses.”

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Corporate tax dodgers are parasites on society-UK / US protest Vodafone, BofA

Tax haven schemes cost the United States $100 billion per year. In the UK, tax dodgers like Vodafone have caused the government to enact Draconian cuts to education and public services leading to the second-biggest protest in the entire history of London, this last weekend. UK Uncut emerged from a handful of citizen groups protesting outside the stores of tax dodger, Vodafone and that has spread to America outside businesses like Bank of America.

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