Moynihan Pressed by Analysts on Bank of America Capital After Record Loss - Bloomberg

Bank of America again trying to cover its tracks when it is revealed they have been pumping their chest out with claims they could not keep. It is as if they are trying as much as possible to will the public into thinking they are in better shape but their earnings is telling the ugly picture. Bank of America is at risk around the world and they still are failing to address their biggest problem of all: the foreclosure crisis in the United States. B of A could easily have increased their revenue this year by just working out loan modifications with a few millions borrowers. There stupidity is going unchallenged, however, as they continue to refuse to work out modifications and try to ramp up foreclosures. It as if they they pushing for more foreclosures is the key to getting people off their back so they can go back to business as usual. It boggles the mind as to why B of A would not rather earning a billion or two more off of mortgages rather than 4 or 5 billion. Add the foreclosure cost and losses that will go with more repossessions has to make people wonder if the executives at the bank are worthy of their positions. They have blown the opportunity to make huge profits off of there country wide deal by refusing to address the underwater homes and by refusing to work with the supply of government funding they have gotten in the recent past. It seem like the board of directors must be going along with their nonsense but it certainly can't be the best for share holders. If it was then we would not continue to see these huge losses on the backs of bank hubris. After talking about increasing the dividend by a penny and coming out with a major loss has to raise the question of financial incompetence or more activity that could potentially be seen as fraudulent. Moynihan Pressed by Analysts on Bank of America Capital After Record Loss - Bloomberg