Bank of America

Sometimes I think that there are names no one should be allowed for commercial purposes.  Given what has happened to the "Bank of America", I think the reasons are evident.  The responsibility of having such a name is great and to treat the name as poorly as the directors and managers have by some of their practices is shameful.

I'm a customer of Bank of America by default.  A community bank is bought by a larger bank, that is bought by another bank and then Bank of America buys that bank.  This has happened over 40 years in Florida and one of Bank of America's latest screw ups is buying a mortgage company that issued a lot of really crappy loans for housing in Florida.  And they call Social Security a ponzi scheme.

It has been announced that there may be as many as 30,000 jobs lost as BOA is going to "downsize".

I also had a small account at a community bank known as Bristol, bought by the Bank of Florida, that was not too big to fail and it became Everbank over Memorial Day Weekend a year ago.  The issue again was too many bad real estate loans complicated by high unemployment. 

For those of you who distrust the federal government the FDIC has done a remarkable job of keeping thw wheels on a broken wagon.

Think of other trademark brand that have gone the way of the dodo.  Be careful when you name that baby of yours

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