Wednesday, June 29, 2011

The Rich Get Richer

I was going to just share this link, but I can't fit my bile into 140 characters.

Bank of America just settled, to the tune of $8.5 billion dollars, over their handling of the complex, toxic mortgage-based securities -- you know, the ones that ruined the economy as they enriched a tiny group of bankers?

And who gets the money, one might ask -- the folks that got stuck with ridiculous mortgages on balloon-priced homes? People who lost their jobs in the meltdown and are stuck upside-down in BoA-overpriced houses?

Nope -- it all goes, as bank money always does, to a group of 22 investors who control a total of $424 billion already. Money is like gravity: it only goes where it already is.

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