Lesley Stahl speaks to bankers about the federal government coming to the aid of America's biggest banks. Shachar Bar-On is the producer.
Пікірлер: 199
@doctorbongjoose4204 жыл бұрын
A lot of old videos from '08-'09 are starting to pop up in my feed. The KZfaq algorithm seems to be trying to tell us something...
@Tbot20204 жыл бұрын
Monsieur Slappahaux yup. They know something we don’t.
@TheCanningite4 жыл бұрын
Same thing happening to me--because I can't stop watching clips from Margin Call and the Big Short lol.
@neillenhart68384 жыл бұрын
TheCanningite thought I was the only one 😂
@angelseliteautodetailing4 жыл бұрын
Getting my Devry University Out of KZfaq 👨🎓
@criticalwealththeory4 жыл бұрын
your definitely right
@TeefSPN4 жыл бұрын
Somehow 08-09 financial crises is popping up all over KZfaq just know it’s 2020 and it’s about to happen again
@michelekisly25352 жыл бұрын
I'm here tonight 2021 ....Ouch
@lupemerritt67025 жыл бұрын
The best way to rob a bank is to own one.
@edward23644 жыл бұрын
Lupe Merritt not exactly you’re not robbing the bank you’re robbing the people who put the money in your bank
@sammylacks49373 жыл бұрын
We, the American taxpayers were the ones robbed! Some made more money when bonuses were handed out, for what I havn t a clue. The Wal Mart of banking? Well.... there ya go.
@psycho.dad52524 жыл бұрын
when any body has an overdraft and the bank hits them with 3 overdraft fees before they contact you is straight up thievery . that needs to be regulated and illegal.
@JoseTorres-dl3kh4 жыл бұрын
Take a look at huntington bank that charges each time you overdraft which makes me wonder why am I paying that bank for overdraft protection I'd the bank is going to charge me $45.00 each time I overdraft.
@slappymcface56814 жыл бұрын
Don’t spend more money than you have...
@2DanTube4 жыл бұрын
I agree - banks are a "public service industry" that takes all the "tax benefits" allowed to "public services" - which are greater tax benefits than say a manufacturer or retailer or even a Photography Studio such as I own. So banks are like any other utility - such as the Power, Gas & Water. So I think banking fees should be "invoiced" and allow 15 - 30 days to pay these fees - instead of yanking funds from your account instantly - and delays in notifying or showing up on your account records = delays to consumers of banking services receiving notice of the fee charges - often causes "more overdrafts" or inaccuracies in personal accounting. Banks are no longer serving the public - yet they take all the tax breaks of a public service. For example, I recently went into a PNC Bank to make the change on a $100 dollar bill to (five) - $20 dollar bills (for increase personal safety - usually avoiding carrying large bills in my wallet - I put (one) $20 in my wallet and the remaining (four) $20's - I hide elsewhere in my clothing). PNC refused to change out the $100 - after asking if I had an account with them. So I asked them - are you a public bank (listed on the FCC & FDIC public exchange) or is PNC a private club or Credit Union owned by private stock and shareholders with no Federal Insurance backed by the Taxpayers? They threatened to call security if I didn't leave. I would help anyone I could to protect their assets and cash - to make our city, nation, and the world - a little safer in protecting our commonwealth - but not our banks. PNC is not alone - I've had Bank of America, Wells Fargo, & Chase all refuse public services to me due to lack of accounts with them. And Chase - I have a Retail Card through them = but they want you to have a checking or savings account before they will do anything for you. YET they get my tax dollars via their tax breaks not to mention taxpayers FDIC insurance for them to supposed to be a "public service." BUT are not. (To make matters worse - when they build a bank on the corner - they get a lot of federal, state, and local taxpayer subsidies to build the building. Then, NOT do simple services for us like changing large bills).
@christianjcedillo4 жыл бұрын
It shouldn’t be regulated. Shouldn’t spend more than you have.
@AdvancedUSA4 жыл бұрын
Here’s a guy making $25 MILLION a year complaining about CEO’s being over paid.
@johnf66874 жыл бұрын
Doctor Goop that’s part of the problem Worker at bottom 9.60 after 25years
@christianjcedillo4 жыл бұрын
He genuinely deserved it for not bringing down Bank of America. Shit would’ve DESTROYED the economy.
@johnf66874 жыл бұрын
Christian Cedillo given a bail out for fair rates we get .50 they lend at 9.5 % I see why they are were they......
@johnf66874 жыл бұрын
That includes CDs and personal loans after we bailed banks the rates are too Unreasonable
@_Wai_Wai_4 жыл бұрын
Money is all fake. If people collectively decide the American dollar is worthless today, it would be worthless.
@iali004 жыл бұрын
Country Wide and Merill Lynch were the headache for Bank of America. It was a great organization until they bought these business. If they stayed away, the stock would be over $200. Ken Lewis was too nice a guy for bailing them all out.
@sox2000 Жыл бұрын
I think you can argue that ML paid off, though. Countrywide? That was like buying cancer.
@lexied5 жыл бұрын
Never should have bailed these thieves out.
@mikesidewinder74824 жыл бұрын
Lexie D ? R they going to pay back the tax payer not
@Dunnolol1014 жыл бұрын
You ever see the video where theyre explaining default credit swaps and dude (no idea who the f it is) gets all pompous even though theyre toxic and destroyed these banks we had to bail out with like "theyre important useful financial tools" interviewer said "but didn they destroy the economy" and he like smiles and says "they're just useful tools you wouldnt understand." Theyre fuckin crooks and its the nature of these people and big business to fuck over whoever to save any penny they can to generate these big numbers for bigger payouts. Its the nature of the beast but what are we supposed to do about it ya kno. Annoying
@colesteidler49904 жыл бұрын
@@mikesidewinder7482 "Are they going to pay the tax payer back" LOL
@boshgezenyan59354 жыл бұрын
Emailed Bank of America, woman said she's out will return on 27th of august- she still has not replied pertaining to my account.
@TW0man4RMY4 жыл бұрын
lol did you ever get a reply?
@bicyclist23 жыл бұрын
B of A is immune to the law. They get away with blatant fraud all the time.
@almaruiz42083 жыл бұрын
Dude, I don't usually comment, but let's just say I had to like and comment this video!
@cbreeze8644 жыл бұрын
Look at Charlotte since this interview, it’s exploded with growth.
@WDI20084 жыл бұрын
And now they have MLS Expansion Team as well!
@chad28314 жыл бұрын
don't want to stigmatize the the banks that actually need help? that's exactly what should have happened. the bank surely stigmatizes customers who can't make good on their loans.
@jayclark37694 жыл бұрын
Chad Evert in the end, one of those banks is still standing, we don’t know which one. Idea is if general population found out, there would be a run on the bank and the would be further damage to the financial system and economy as a whole
@chad28314 жыл бұрын
@@jayclark3769 this is a distinction without a difference. a run on the bank is the public realizing the bank or financial system as a whole has f'd up. it's what should happen instead of kicking the can down the road. if someone doesn't pay their house note, the bank doesn't say here's some more money, now don't spend it all at once.
@lawrence19604 жыл бұрын
So let’s see....the government gives the banks billion dollars so they can loan it egregious rates. So the bank gets richer....? How about requiring banks to pay a better proportion of interest paid to depositors compared to loan rates. This is obscene.
@jafll1415 жыл бұрын
Country Wide didn’t work out well for B of A.
@kathyannpardi98884 жыл бұрын
BofA used Countrywide as a tax writeoff. 😠
@johnf66874 жыл бұрын
RocCity Plowing & Lawncare Inc, BAC has Moody’s down graded them to Junk Status???
@jafll1414 жыл бұрын
John F I don’t know. Good question.
@yolandagailes2393 Жыл бұрын
It's March 14, 2023 and just a few days ago we experienced the (Silicon Valley In CA) 2nd and (In NY) 3rd Largest Banks collapsing in History. And yet the FDIC had to step in to ensure consumers get their money and will be backed by the Treasury if they run out of funds to give the consumers their money up to 250K. Which leaves me to wonder 13 to 15 years ago when this video was made; did Bank of America pay back those funds in 3 to 5 years as he stated? Did they pay them back at all? Or did they take the 25 Million dollars received from the Federal Government to make loans to struggling consumers and small businesses, and just pad the pockets of more Executives. Becoming another situation where Main Street is robbed by Wall Street. This video is just another reminder that History repeats itself over and over again. He sounds like he was playing a game of Monopoly to include Bank of America with Merrill Lynce. I just shake my head and listen to this guy say whatever he thinks she wants to hear. 🤑 Until she asked the Multi-Million Dollar question. Do you think your job (salary) is in jeopardy. 😳 And for him to say he hadn't given it any thought let's us know he isn't concerned about feeding, clothing, housing, or providing for his family. 🤔 Because he has enough money set aside to pass along for generations to come. 🙄 That video has October 19, 2008 stamped as the date.
@jaybriwilliams2034 жыл бұрын
I just graduated high school when this happened one of my teacher told me my generation was fucked
@chadfinneman94104 жыл бұрын
Really important to keep the rich rich
@johnf66874 жыл бұрын
Chad Finneman really important to keep bailing them out ( how many times of a bail the we ask the to try another business because if you fail this time no bail
@mayhem74554 жыл бұрын
Nope, you didn't win in that sense. You got to be #1 not by being better, but by buying the competition when they went south. Doesn't make you the best, just lucky enough to still be standing when the dust settled. Don't smile, you're not a hero.
@connierupp25884 жыл бұрын
Do not waste your time worrying about this. Enjoy each day.
@plinionoguera91564 жыл бұрын
Thieves, thieves
@beastfromtheeast93185 жыл бұрын
Bank of America is terrible. I would never do business with them.
@IngridTealRemax4 жыл бұрын
Beast from the East I lost my sons condo Bank of America foreclosed on me I was not behind in payments but my homeowners association dues were overdue so I sent them a check and they sent it back and they forfeited my my sons and mine condo that was supposed to be my retirement home I cried I did everything I could and everybody laughed at me and said no way that was Bank of America
@victorvictor85874 жыл бұрын
Paving a Road to Damnation After that Comes Hell We're on Schedule I remember the Stickers that they put on paper work when we were in Elementary School, Terrific!, Great! Excellent!, and the Scratch and Sniff Stickers .
@mataiohammond9623 Жыл бұрын
He does remember. And he didn't belive that you can tell by his face an the way he speaks
@sahinkose34533 жыл бұрын
1:02 what is it?
@daphnewhite75603 жыл бұрын
1:11 love this momment
@johnf66874 жыл бұрын
This sounds like charlottes web bank; why won’t government have an oversite committee to make sure bailouts go to the proper consumers rather than raises for staff. Executive comp 9.56hr For bank failed again
@jessiemartinfostersr.60674 жыл бұрын
THE SAUDI'S OWN A HUGE SHARE OF B OF A .I WAS TOLD SEVERAL YEARS AGO !
@ThejOH0073 жыл бұрын
I’m here in 2021...
@billdipperly60794 жыл бұрын
what a disaster. It is your patriotic duty to lend money to people already in an insurmountable amount of debt.
@jayclark37694 жыл бұрын
Praise Kek it’s someone’s decision if they want to borrow more. More money available isnt a bad thing
@billdipperly60794 жыл бұрын
@@jayclark3769 imagine being this dumb
@jayclark37694 жыл бұрын
Praise Kek thought response
@travismunro73764 жыл бұрын
How many class action lawsuits have they lost since this video was released? I was a part of one..
@debraperez71714 жыл бұрын
Glad to know the Civil War hasn't had any lingering effects.
@anna-aliciarodgers92953 жыл бұрын
Anyone still watch this video?
@tiklyspade50654 жыл бұрын
This was madness
@ericwsmith77225 жыл бұрын
Wonder how much BOA. pays in postage, me and my wife get 4 or 5 letters a week from them, always "change to your account"
@CarlosMorales-dn8ww3 жыл бұрын
25 million a year...i shouldn't be complaining
@bicyclist23 жыл бұрын
There's a movie about this. I can't remember the name. The Banks are the problem not just the politicians. This will happen again, its only a matter of time.
@filipenunes51513 жыл бұрын
Do you mean The Big Short?
@pfsalinger71953 жыл бұрын
BofA was the original “roll up “ king they barnstormed America and rolled up all these institutions and banked on the fact the tax payer would be the hedge of all hedges . Being small may not be attractive but being ethical is as good as gold and I don’t think they truly want to answer the question if the growth they obtained was ethical and in the best interest of shareholders of BofA . That’s my opinion
@jafll1414 жыл бұрын
We all know how Country Wide turned out.
@AdrianDucao4 жыл бұрын
I love America! Making money is great and i'm not even an american!
@ernawiget8684 жыл бұрын
IAN DUCAO DO U MEAN: PRINTING MONEY ?
@sanchhouk50023 жыл бұрын
I'm looking for Back of america near house
@michaelwoods44955 жыл бұрын
Merrill Lynch? What happened to Pierce, Fenner, & Smith?
@jayclark37694 жыл бұрын
Michael Woods still around
@voranartsirisubsoontorn90104 жыл бұрын
Can understand the reasons behind this.
@emmanuellesantos26403 жыл бұрын
Safe and sound
@bobo111122222 жыл бұрын
There are NO Temporary in Government. It's always Permanent.
@badlands68293 жыл бұрын
Ken Lewis buying Merrill Lynch for the amount he did was idiotic.
@kalijasin4 жыл бұрын
Golden parachute? 🤨 He’s been making millions in compensation for years on end.
@cooperwinslow7999 Жыл бұрын
Meaning exit bonus with vested stock income and options contracts
@joannthomases93044 жыл бұрын
The people loan money to the banks. Per berth bonds. See if that is correct.
@dirtyd97924 жыл бұрын
I've paid my taxes loyal for over 40 years. Why aren't I'm getting money just for the shit of it ?
@rab64534 жыл бұрын
they bought out the small banks and now make more money.they got such a raw deal oh yea.
@kingjeremysircornwell7847 Жыл бұрын
Put the wood Indian back and give the wood Indian a bank account. Fix
@SrJackquito3 жыл бұрын
Do not forget how the banks got bailed out.
@DanielRodriguez-rk5ex4 жыл бұрын
So we loan our selves our own money
@AimeMOfficial4 жыл бұрын
Pretty much lol
@mexicano61204 жыл бұрын
So the best system is to put Americans in debt and once they cant pay repo possessions back that called racketeering
@belowaverageluke13694 жыл бұрын
2008..
@victorespino56504 жыл бұрын
They saved and became wall st.
@NYRM19744 жыл бұрын
BOYCOTT BANK OF AMERICA
@salamander46683 жыл бұрын
Don't kill Ken Lewis - a former head of Bank of America.
@xentaatnex82614 жыл бұрын
You need regulation when you're dealing with human behavior and money.
@jakelittle25133 жыл бұрын
I think i just felt in love
@okami32714 жыл бұрын
This guy is making $25M a year and still saying executives are making too much. Do you have any idea what I could do with $25M? The fact that you can make that kind of money and still not harness its potential speaks to the lackluster imagination and cleverness of the finance world.
@AimeMOfficial4 жыл бұрын
Not all from his job he has other assets, he is a business man. Doesnt buy expensive cars etc.. puts his money where it makes more money.
@BD-oc7fj4 жыл бұрын
It's a time bomb set to explode now
@kystars4 жыл бұрын
wow so he gets 25 million dollars take home pay. tsk tsk
@AimeMOfficial4 жыл бұрын
Not all from his job he has other assets, he is a business man. Doesnt buy expensive cars etc.. puts his money where it makes more money.
@nasrahmed70664 жыл бұрын
ممتاز
@dieudozedscorps73104 жыл бұрын
Bonjour j'aimerais svpl 40garsde du corps je suis côté en bourse rien que sa
@cuellar45002 жыл бұрын
Deja Vu
@taptapbang3 жыл бұрын
iS tHiS sOcIaLiSm?????
@ws31574 жыл бұрын
25 million's$, f#@n joke
@rodneyenkesr34424 жыл бұрын
WHAT ABOUT THE J.P. MORGAN CROOKS.
@catalinarael9013 жыл бұрын
N.b.c. Channel by Catalina Margaret Rael
@danahenderson2244 жыл бұрын
Bank of America is one of the worst
@alvestv16622 жыл бұрын
I love you my money
@mannymanny28174 жыл бұрын
Haha
@g.hogeboom92884 жыл бұрын
Lewis is a liar. He was fronting $ for countrywides sub prime mortgages..whic is why they had to take on Countrywides loans. Bank of America then had its own servicing...and they were unbelieveably corrupt. Their accounting looked likea 10 year old was doing it. More than 10K in errors in my mortgage account. Disgusting.
@ediesmalls38184 жыл бұрын
The Lord the Lord in the king of King so he is coming for the evil Wicked and corrupt and they will be destroyed for all the things that they have done on this Earth and to God's people be on the lookout cuz he's coming soon to come that's why in the Bible he said men do the deed in darkness so you don't see the dirt that they doing that's why the Lord is on the horizon exposing everything and everybody he said what goes on in the dark must come to the light he says no more hidden things and no more secrets the Lord says enough is enough
@alvestv16622 жыл бұрын
So cutee
@williamice78683 жыл бұрын
Bank of Italy
@dianahill72393 жыл бұрын
Do journalists, or others know when they are speaking to an atheist?
@flip1980ful4 жыл бұрын
Socialism for the wealthy rugged individualism for the rest of us
@jamesjolley18283 жыл бұрын
Aint no body watch this!
@donnachesser214 жыл бұрын
Gready. Regular people working hard, blisters,sores on feet,tired get paid only minimum wage. He is gready,gready and gready
@FranciscoRodriguez-be6ik4 жыл бұрын
A banker who doesn't like ultimatums, go figure. They can't handle what they love to dish out. Where's the law that state's a bank's loyalty to patriotism for country? Finally, Bank of America is at least half American and not 100% privately owned by foreign private investors. The primary owners are still the wealthiest Italian family in the world. Just like the Federal Reserve is not Federal, Bank of America is truly Banco dí Italia.
@khairulnaeim75623 күн бұрын
They still talking about American when someone try to find a way make more money from other west country....
@xentaatnex82613 жыл бұрын
Government giving taxpayer money to banks is like giving money to a compulsive gambler.
@WDI20084 жыл бұрын
BANK OF AMERICA is now one of the best banks in the United States and the World!
@charlestdennis27974 жыл бұрын
BofA is much better now that Ken Lewis is gone. His handling of Countrywide and Merrill Lynch were so bad it did significant damage to the bank, the associates, and the customers of the Bank for many years after. Brian Moynihan has done a much better job at handling the bank and has done a very admirable job of rebuilding the bank from the mortgage crisis. Just before the Mortgage crisis in August 2008 Bank of America stock price was around $54 per share. After the crash in January 2009 that same stock sold for less than $3.00 per share.