Well. . .he asked us to disregard ethical considerations. . .I think the best answer is for you to consult with your attorney.
I agree with the poster who said that this not only hurts "big, greedy" BoA but also hurts Joe Average Investor.
That being said, banks are going to have to start to learn the hard way that there are people out there like this and it's bad to do business with them.
If BoA is misguided enough to extend this guy credit, and not freeze his credit limit when he's late on payments by months, etc., then they deserve the billion dollar losses they post and the investors who put faith in them deserve the loss in their portfolios.
Again, I don't disagree with all the ethical judgements. I think it sets a bad precedent but credit card companies (and mortgage companies) are part of this dysfunction America has.
|