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Banker Attacks Topless Performer in Times Square

On…How to lose your job and career by doing something totally stupid. Truly career limiting stupidity.

Topless buskers in Times Square

Soulless Banker in Topless Spar

It’s safe to say that physically assaulting a topless woman in Times Square was not on Mark Walters’ New York City bucket list.

The Bank of America executive presumably had plans to see “The King and I” on Broadway before wading into the chaos of Times Square on Wednesday evening to befriend its infamous street performers.

Maybe he’d have his photo taken with The Naked Cowboy, or Elmo, or even one of the bare-breasted “desnudas” he’d seen in the papers, before Mayor Bill de Blasio has them all cuffed and whisked away.

After all, 46-year-old Walters had come from sleepy Charlotte, North Carolina, where BoFA is headquartered, to the city that never sleeps. Back home, there are no topless women fleecing people for their money outside (though there are plenty doing it indoors.)

Given this rare opportunity, Walters did what any sensible senior employee at the second biggest bank in the country would do: He cozied up to two of the half-nude panhandlers, their breasts painted with patriotic colors, for a touristy photo op.

Alas, the photo op was foiled when he accused one of the desnudas, 32-year-old Lourdes Carrasquillo, of snatching his wallet, police told the New York Post. It’s unclear how she would have pulled off this sleight of hand, unless she deftly tucked it into her g-string. But Walters was so convinced that he grabbed her hair and shoved her to the ground. Another desnuda claimed he socked Carrasquillo in the face.

One of Times Square’s costumed performers, the Silver Cowboy, reportedly rushed to break up the scuffle, as did a uniformed officer nearby. Police found no evidence—nothing in her g-string or anywhere else—that Carrasquillo had pickpocketed Walters.

Walters was arrested at the scene and charged with misdemeanor assault and harassment. (Court documents say he “struck, shoved, and kicked” Carrasquillo). He was arraigned on Thursday in Manhattan Criminal Court, where Judge Felicia Mennin set his bail at $1,500, despite objections from his lawyer, Gurmeet Singh, who reportedly argued that bond wouldn’t have been necessary if “these scantily clad women” weren’t involved. (Singh could not be reached for comment.)…

While Bank of America declined to comment on Walters’s salary or misadventures in Manhattan beyond confirming that “he is an employee with the bank,” $1,500 bail is ostensibly manageable for Walters. His job title on LinkedIn is Technology Business Executive at BoFA. His base salary is roughly $213,000, with $155,000 in additional compensation tossed in, according to Glassdoor, a recruiting website with a database of 8 million company reviews, including salary reports from employees at those companies.

Carrasquillo, who was sent to the hospital on Wednesday evening with minor injuries, could not be reached for comment.

 
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Posted by on September 6, 2015 in Nawwwwww!

 

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Arizona Nevada Sue Bank of America For Fraud

Seems that Bank of America has been defrauding customers (what else is new?) in a whole new way. The current scam involves getting delinquent customers to continue to pay with promises that their payments will forestall foreclosure…

And then foreclosing anyway.

B of A even did “Press Releases” –

Bank of America Helps 125,000 Homeowners With “Making Home Affordable” Loan Modifications

Starting November 1st, Bank of America’s will have surpassed its goal of providing 125,000 trial loan modifications through the government’s Home Affordable Modification Program (HAMP).  These modifications, part of the Making Home Affordable Program, aim to resolve loan issues by offering an incentive for banks to accept modifications to a loans terms, rather than simply foreclosing on the home.

This is the same bank which for years ran the scam of cascading customer checking accounts to maximize the overdraft penalties, and who set up a late payment structure on their credit cards which taxed consumers $35 a month regardless of when they made the payment.

So it really isn’t a surprise that this is what they really did…

Two States Sue Bank of America Over Mortgages

The attorneys general of Arizona and Nevada on Friday filed a lawsuit against Bank of America, accusing it of engaging in “widespread fraud” by misleading customers with “false promises” about their eligibility for modifications on their home mortgages.

In withering complaints filed in state courts in both states, the attorneys general accused Bank of America of assuring customers that they would not be foreclosed upon while they were seeking loan modifications, only to proceed with foreclosures anyway; of falsely telling customers that they must be in default to obtain a modification; of promising that the modifications would be made permanent if they completed a trial period, only to renege on the deal; and of conjuring up bogus reasons for denying modifications.

“Bank of America’s callous disregard for providing timely, correct information to people in their time of need is truly egregious,” Catherine Cortez Masto, the attorney general of Nevada said in a statement.

Many Nevada homeowners continued “to make mortgage payments they could not afford, running through their savings, their retirement funds or their children’s education funds.”

The lawsuit comes as top prosecutors nationwide are investigating whether the paperwork that banks used to support foreclosure cases often was egregiously sloppy, sometimes relying on robo-signers — employees who signed hundreds of documents a day — to sign sworn court documents.

Tom Miller, Iowa’s attorney general who is heading the multistate investigation into foreclosure fraud allegations, said the two states’ lawsuits would not dilute his inquiry. “It is clear that attorneys general in Arizona and Nevada believe that it is in their two states’ best interests to pursue coordinated civil cases against Bank of America,” he said in a statement.

A Bank of America spokesman, Dan Frahm, said bank officials were disappointed that the lawsuits were filed “at this time,” given the bank’s cooperation with the multistate investigation.

Mr. Frahm disputed the allegations in the lawsuit, saying the bank was committed to making sure no property was foreclosed until the customer had a chance to modify the loan or, if ineligible for a modification, to pursue another solution.

He said the attorneys general didn’t acknowledge the many improvements the bank had made, like providing a single point of contact for customers who have started the modification process and increasing staff to support “homeownership retention initiatives.”

Arizona and Nevada are among the states hardest hit by the housing downturn, and the state attorneys general said their lawsuits were prompted by hundreds of complaints by consumers who sought modifications of their mortgages.

The complaints in the lawsuit in many ways echoed problems encountered by homeowners nationwide who have tried with little luck to obtain mortgage modifications from banks, often through a federal program set up for that purpose. Thousands of homeowners complain that banks repeatedly lose their documents, fail to return calls or foreclose when a homeowner believes he or she is still negotiating a modification.

Indeed, according to the lawsuits, Bank of America’s efforts were the most anemic of the big banks and were not confined to the Western states but rather “reflect a pervasive nationwide pattern and practice of conduct.” The lawsuit noted that Bank of America ranked last in “virtually every homeowner experience metric” monitored in a monthly report on the federal home loan modification program.

Ms. Masto of Nevada said her office’s findings were confirmed by interviews with consumers, former employees, third parties and documents. Former employees said that Bank of America’s modification staff was “chaotic, understaffed and not oriented to customers,” according to a news release. One former employee said, “The main purpose of the training is to teach us how to get customers off the phone in less than 10 minutes.”

Another employee said, “When checking on a borrower’s status, I often found that the modification request had not been dealt with or was so old that the request had become inactive. Yet, I was instructed to inform borrowers that they were ‘active and in status.’ One time I complained to a supervisor that I felt I always was lying to borrowers.”

 

 
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Posted by on December 18, 2010 in Great American Rip-Off

 

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Big Enough to Fail… Bank of America

It appears the rats are jumping the Bank of America ship…

The next real serious challenge for the Obama Administration is going to be dealing with the banks. The foreclosure crisis is just the tip of  a very deep iceberg. While BOA has paid back the TARP funds, it appears they didn’t use a penny of the money to get the rats and thugs out of their operations…

I believe the only way to do that is criminal investigation and prosecution.

Bank of America Edges Closer to Tipping Point: Jonathan Weil

It was only last April that Bank of America Corp. was making fools out of the doomsayers who had called for its nationalization a year earlier. Taxpayers had gotten their bailout cash back. Investors who bought its shares at the bottom were making a killing. Government leaders lauded the company’s rescues, both of them, as a great success.

Now the bank may be on the verge of trouble again. Its stock has fallen 41 percent since April 15. Mortgage-bond investors are demanding untold billions of dollars in refunds. The foreclosure fiasco is metastasizing. A member of the Troubled Asset Relief Program’s oversight panel, AFL-CIO attorneyDamon Silvers, openly worried at a hearing last week about the risk that Bank of America might need another bailout.

A few more months like the last one, and we may be wishing Bank of America had never returned its $45 billion of TARP money.

You wouldn’t know there’s anything wrong with Bank of America by an initial look at itsbalance sheet. The company showed common shareholder equity, or book value, of $212.4 billion as of Sept. 30. And its regulatory capital ratios have risen steadily throughout the year.

Tipping Point

Judging by its shrinking stock price, though, investors are acting as if Bank of America is near a tipping point. Its market capitalization stands at $115.6 billion, or 54 percent of book value. That’s the second-lowest price-to-book ratio among the 24 companies in the KBW Bank Index, and well below the 76 percent ratio the company was at in October 2008 when it landed its first round of TARP dough. Put another way, the market is saying there’s a $96.8 billion hole in Bank of America’s balance sheet.

When I asked Jerry Dubrowski, a Bank of America spokesman, about the disparity, he said: “I’m not going to comment on the book value and the stock price.”

It may be the shares are a bargain at $11.52, if the company’s books are right. Another plausible scenario is that Bank of America’s management, led by Chief Executive Officer Brian Moynihan, has lost so much credibility with investors that the stock’s decline might start feeding on itself.

The problem for anyone trying to analyze Bank of America’s $2.3 trillion balance sheet is that it’s largely impenetrable. Some portions, though, are so delusional that they invite laughter. Consider, for instance, the way the company continues to account for its acquisition of Countrywide Financial, the disastrous subprime lender at the center of the housing bust, which it bought for $4.2 billion in July 2008.

 

 
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Posted by on November 8, 2010 in News

 

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Getting Tougher on the Bank Fraudsters

Ex-BofA chief Lewis charged with fraud

Former BofA CEO Ken Lewis

New York Attorney General Andrew Cuomo unveiled a major legal action against senior Bank of America executives Thursday over its controversial purchase of Merrill Lynch, including bringing civil charges against its former CEO Ken Lewis.

Cuomo’s office, which has been aggressively pursuing an investigation into the merger and subsequent bonuses paid to former Merrill employees, said it was charging Lewis and Bank of America’s chief financial officer Joe Price, who was recently appointed to lead the firm’s consumer banking business.

The lawsuit contends that the bank’s management team understated the losses at Merrill in order to get shareholders to approve the deal, then subsequently overstated the firm’s willingness to terminate the merger in order to get $20 billion of additional aid from the federal government.

“Bank of America, through its top management, engaged in a concerted effort to deceive shareholders and American taxpayers at large,” Cuomo said in a statement.

“This was an arrogant scheme hatched by the bank’s top executives who believed they could play by their own set of rules.”

A spokesperson for Bank of America called the charges “regrettable” and “totally without merit.”

Separately, the Securities and Exchange Commission said Thursday it had struck an agreement with Bank of America over the company’s decision to pay $3.6 billion of bonuses to former Merrill employees for fiscal year 2008.

Under the terms of the proposed settlement, the Charlotte, N.C.-based lender will pay a $150 million penalty to its shareholders who were affected by the disclosure violations.

The company also agreed to implement a number of corporate governance changes for the next three years including giving its shareholders an advisory vote, or “say on pay” of its executives.

The settlement will be subject to the approval of U.S. District Court Judge Jed Rakoff, however.

Rakoff scuttled a previous agreement between the two parties last fall, arguing that the original $33 million settlement was not only paltry, but would only impact those who were hurt by the bonus scandal: the company’s shareholders.

Another candidate for the Bernie Madoff wing at Club Fed.

 
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Posted by on February 4, 2010 in News

 

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How Corruption Destroyed America

Corruption threatens “soul and fabric” of U.S.: FBI

BOCA RATON, Florida (Reuters) – Corruption, whether in the form of crooked officials, financial fraudsters or even philandering sports stars, is tearing at the fabric of U.S. society and is the country’s No. 1 criminal threat, a senior FBI agent said on Tuesday.

Corruption destroying the country

Addressing businessmen in Florida, where financial fraud cases jumped by 42 percent in the last year, FBI Miami Division Special Agent in Charge John Gillies said failures in personal ethics and integrity sowed the initial poisonous seeds of corruption in a society.

Gillies said transgressions by high-profile public servants and even perceived social role models, like top golfer Tiger Woods, currently embroiled in allegations that he had extramarital affairs, sent the signal to young Americans that cheating and stealing were acceptable.

“Where do our children learn this? They see us, their elected officials, their sports stars, they see how they act and they figure, ‘well it’s OK,'” he said, citing the case of Woods, whose early morning car accident in Florida last month triggered a storm of media questioning of his clean-living reputation. Read the rest of this entry »

 
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Posted by on December 9, 2009 in General, You Know It's Bad When...

 

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A Modern Day Heroine – Jackie Ramos

Meet Jackie Ramos, a former “customer advocate” from the collections department at Bank of America. “Former” as in fired…

For being honest. Hat Tip to Huffpo on this one.

Former Bank of America employee offers inside look at bank’s practices

While millions of credit card customers have been through the painful process of negotiating past-due or over-the-limit accounts, few have dealt with their credit company face-to-face. Usually, the conversation is with a customer-service representative in another city who cheerfully outlines the fees and penalties that the cardholder must pay, regardless of whether he or she can afford it.

Read the rest of this entry »

 
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Posted by on December 9, 2009 in General, You Know It's Bad When...

 

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Bank of America Drops ACORN

Bank suspends dealings with ACORN housing entity

WASHINGTON (AP) — Bank of America Corp. is suspending its work with the housing affiliate of embattled community organizing group ACORN. The decision comes as three Republicans in Congress ask Bank of America and 13 other financial institutions to give Congress a complete accounting of their dealings with the Association of Community Organizations for Reform Now or its affiliates.

In a statement, Bank of America said it would not enter into any further agreements with ACORN Housing Corp. until the bank is satisfied all issues have been resolved. ACORN Housing Corp. and Bank of America have worked together for years on mortgage foreclosure issues.

prison_jumpsuit

You will have to excuse me on this one, but this is like Bernie Madoff calling your local WallMart Shoplifter who has been caught…

A thief.

Bank of America, as the largest US Bank –  stole a goodly part of the $38 BILLION collected from consumers last year in “Overdraft fees” on their checking accounts by banks. Overdraft fees, which were often manipulated into existence – by the bank. And that doesn’t even get into the predatory sub-prime lending of some of their subsidiaries.

The only real difference between Al Capone and Bank of America, is while Al was able to buy protection from  a Mayor and a Governor…

Bank of America’s corrupt enterprise has enabled them to buy protection from Congress.

If America weren’t the 13thon the list of corrupt nations in the world (the Economist)…

The senior executives and senior financial staff of Bank of America would be spending 20 years of jail time next to the “common” thieves…

Teaching them how to steal big.

Making America a real “Land of Opportunity”.

 
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Posted by on September 29, 2009 in You Know It's Bad When...

 

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