Bank Of America Is Getting Sued By A Company That's 34% Owned By Bank Of America

10-19-10, 01:57 PM

How odd is this?

But also suing BofA, according to Bloomberg, is Blackrock, the asset manager that's 34% owned by BofA!

Read more: http://www.businessinsider.com/black...#ixzz12pgd2YTK

CCIP · 10-19-10, 01:59 PM

May be odd, but not at all irrational. Being partially owned by someone doesn't prevent a company from being potentially hostile to "daddy" and trying to throw him off while getting some cash via court in the process.

GoldenRivet · 10-19-10, 02:02 PM

companies "sue themselves" all the time.

generally this happens because of some breech of contract or falling apart of some agreement between the two parts of the same company where two different management structures are involved.

does it make sense? no... they could settle it out of court and save a lot of money for both companies.

but hey... when is the last time you knew "management" to do much of anything that made sense on the front line?

krashkart · 10-19-10, 02:10 PM

Management and sense?? Surely you jest, sir.

Sailor Steve · 10-19-10, 02:22 PM

Quote:

Originally Posted by krashkart

Management and sense?? Surely you jest, sir.

I'm dead serious, and don't call me Shirley!

C'mon, you had to see that one coming.

gimpy117 · 10-19-10, 03:06 PM

BOA was one of the more corrupt banks in the financial crisis. so this lawsuit is no surprise to me. They're sins are coming back to bite them.

krashkart · 10-19-10, 03:13 PM

Quote:

Originally Posted by Sailor Steve

I'm dead serious, and don't call me Shirley!

C'mon, you had to see that one coming.

Your memory is a lot sharper than mine. I had to look it up.

FIREWALL · 10-19-10, 03:14 PM

Quote:

Originally Posted by gimpy117

BOA was one of the more corrupt banks in the financial crisis. so this lawsuit is no surprise to me. They're sins are coming back to bite them.

That's why alot of people have switched to Credit Union banking.

GoldenRivet · 10-19-10, 04:17 PM

Quote:

Originally Posted by gimpy117

BOA was one of the more corrupt banks in the financial crisis. so this lawsuit is no surprise to me. They're sins are coming back to bite them.

They wired me $20K just today so i've got no room for complaint

TLAM Strike · 10-19-10, 04:50 PM

Quote:

Originally Posted by FIREWALL

That's why alot of people have switched to Credit Union banking.

I recently switched all my banking to the Bank of Nigeria after the deposed president of the country sent me an email about the great interest rates they have...

Betonov · 10-19-10, 05:17 PM

Quote:

Originally Posted by GoldenRivet

They wired me $20K just today so i've got no room for complaint

Guess who's buying beer to all the subsimers tonight

GoldenRivet · 10-19-10, 06:00 PM

I tell you what...

you guys can have a free beer each at my place but there is a 10$ fee at the door.

and at least 300 of you have to show up though.

offer valid only on 10-19-2010 from 6:00pm to 6:10pm central time USA

hope you can make it in time

gimpy117 · 10-19-10, 06:49 PM

Quote:

Originally Posted by GoldenRivet

I tell you what...

you guys can have a free beer each at my place but there is a 10$ fee at the door.

and at least 300 of you have to show up though.

offer valid only on 10-19-2010 from 6:00pm to 6:10pm central time USA

hope you can make it in time

hey now its $5 a cup at a kegger here. What kind of beer we talking? lets start at the ground here and work up on this deal

10-19-10, 01:57 PM	#1
The Third Man Stowaway Posts: n/a Downloads: Uploads:	Bank Of America Is Getting Sued By A Company That's 34% Owned By Bank Of America How odd is this? But also suing BofA, according to Bloomberg, is Blackrock, the asset manager that's 34% owned by BofA! Read more: http://www.businessinsider.com/black...#ixzz12pgd2YTK

10-19-10, 01:59 PM	#2
CCIP Navy Seal Join Date: Apr 2005 Location: Waterloo, Canada Posts: 8,700 Downloads: 29 Uploads: 2	May be odd, but not at all irrational. Being partially owned by someone doesn't prevent a company from being potentially hostile to "daddy" and trying to throw him off while getting some cash via court in the process. __________________ There are only forty people in the world and five of them are hamburgers. -Don Van Vliet (aka Captain Beefheart)

10-19-10, 02:02 PM	#3
GoldenRivet Subsim Aviator Join Date: Mar 2007 Location: Texas Posts: 8,726 Downloads: 146 Uploads: 0	companies "sue themselves" all the time. generally this happens because of some breech of contract or falling apart of some agreement between the two parts of the same company where two different management structures are involved. does it make sense? no... they could settle it out of court and save a lot of money for both companies. but hey... when is the last time you knew "management" to do much of anything that made sense on the front line? __________________

10-19-10, 03:06 PM	#6
gimpy117 Ocean Warrior Join Date: Jul 2007 Location: Kalamazoo, MI Posts: 3,243 Downloads: 108 Uploads: 0	BOA was one of the more corrupt banks in the financial crisis. so this lawsuit is no surprise to me. They're sins are coming back to bite them. __________________ Member of the Subsim Zombie Army

10-19-10, 06:00 PM	#12
GoldenRivet Subsim Aviator Join Date: Mar 2007 Location: Texas Posts: 8,726 Downloads: 146 Uploads: 0	I tell you what... you guys can have a free beer each at my place but there is a 10$ fee at the door. and at least 300 of you have to show up though. offer valid only on 10-19-2010 from 6:00pm to 6:10pm central time USA hope you can make it in time __________________

10-19-10, 02:10 PM	#4
krashkart Navy Seal Join Date: Jan 2010 Posts: 5,292 Downloads: 100 Uploads: 0	Management and sense?? Surely you jest, sir.