Bank of America has a full page ad on page A11 of yesterday’s Wall Street Journal touting a 10 year program investing $1.5 trillion in low income and minority communities and $20 billion on “sustainable” business practices. The former is the root cause of the mortgage crisis and the latter is a joke. Businesses are “sustainable” when they turn a profit not when they turn their eye to Washington, DC. BofA is one of the white knights of the government bailout of the financial industry and it appears they have become exactly the type of firm they helped rescue. Heaven help us.
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