Tuesday, June 12, 2012

Poor old Bank of America ... they're about to get swindled

Bank of America Corp. (BAC) said it will contribute $50 billion over the next 10 years to address climate change, the latest company to boost its investments toward environmental goals. 

The new set of goals will be effective on Jan. 1, following the anticipated completion of the bank's current 10-year pledge of $20 billion, which it said is four years ahead of schedule. "Environmental business delivers value to our clients, return for our shareholders, and helps strengthen the economy," said Chief Executive Brian Moynihan. "We met our prior goal in about half the time we set for ourselves, so more than doubling our target is ambitious but achievable."

 The bank's new initiative includes lending, equipment finance, capital markets and advisory activity and carbon finance, as well as advice and investment help. (Carbon finance -- lmao.)

Bank of America will focus on promoting energy efficiency; renewable energy, including wind, solar and hydropower; lower-carbon transportation like electric and hybrid vehicles; and water and waste treatment and disposal initiatives. More here:

Oh really? Yes, we must combat climate change.  Why?  Because it's the right thing to do.  I love how they position themselves as being charitable and contributing this $50 billion to the planet earth (and the media allow it without question.)

And why would they want to present themselves that way?  The only  way that would be good for their image is if people actually bought that line of total bullshit.  Are there people so stupid that they would believe this pantload?

Anyway, poor Bank of America ... it looks like they're taking an unreasonable chance with a lot of money .... investing in "green" companies and so forth ... very risky, eh?  

Unless ... unless they are going to provide loans to the green companies AFTER the green companies have secured loan guarantees from the federal government.  If that's the case, the bank cannot lose.

You know who else never loses in these deals?  The "green" company executives.  That's right, those guys arrange the loan guarantees from their politician buddies get the company financing and then get paid millions in salary/bonuses.  Then they turn around and give a cut to the politician who helped push the loan through.

Remember Solyndra?  Ever wonder how much those cronies contributed to Obama?  What?  You weren't aware of that?  Well, the media probably forgot to tell you ... or maybe the media didn't even know about it ... yes, that's probably it.  In any event, it happens all the time Solyndra was probably the only time that ever happened, right?  Just a fluke, right?

Anyway, the banks make money ... the corporate execs leave with millions ... the politicians make money ... and where does it all come from?  Who is it that is paying and paying and paying, for nothing?  

Lmao ... "climate change."  Just the latest thing they use to separate you from your money.  HEE HAW ... HEE HAW!!  Keep voting for "Democratics."

No comments:

Post a Comment