Bank of America and the McMillan Group

Quote:

Originally Posted by Code357

What does the McMillan Group have to gain from the alligations against BOA? I tend to believe the McMillan group at this point. It may be a weakness of mine but due to the past history of these large banks it is not hard for me to believe they would lie. I may be proven wrong and I will admit I was wrong and say my apologies. We shall see.

First, I am not defending BOA over McMillian but rather trying to remain objective.

The only thing I can think of is 'saving face' publically. If word gets on the street that you bank dumped you the implied instability can have a ripple effect, consider GM and Chrysler.

BOA cannot go public with the reasoning behind what they did. IF they did McMillian could press civil charges. It could be that Ray Fox is an adamant ‘anti-gun’ and went overboard in his 'personal' actions. Only time will tell how BOA addresses this but I doubt we will ever find out. AND I like you do so little business with either to make a difference.

As to the bailout, remember GWB gave them this not BHO. And they, as all other BANKS (not AIG yet), paid back ALL their bailout including interest VERY quickly. In fact considering the interest revenue it was the best 'investment' the government has made in recent history, think Solyndra/Beacon Power/Ener1.

Hard for me to believe that any big financial institute would make any decision based on anything other than the bottom line. I guess there's an outside chance that there is someone in BOA who has principles(however misguided) but it would certainly be out of character.

Dickieboy

100% correct.

Bank of America to Gun Company: Find Another Bank - YouTube