Monday, July 13, 2009

Banks are notorious for their endless, unnecessary fees. Now the US taxpayer gets to charge a bank some needless fees. Bank of America is balking at paying the US government $4 billion in fees for the US government's implied backing of $118 billion of BofA assets. Here is the link to the Bloomberg article. I imagine BofA won't have to pay the whole fee, but I think it's funny that a bank is getting the same treatment it dishes out - and does not like it. BofA, welcome to your customer's world.

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