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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: mph who wrote (289283)	1/24/2009 6:39:33 PM
From: Sr K	Read Replies (1) \| Respond to of 794046

>>My new motto for 2009 is Keep the change << That was a con job by Bank of America, introduced when they wanted no delays closing the acquisition of MBNA. The limit was 10% of national deposits and they were over 9.90% combined, possibly 9.96%. To drive money out of checking accounts but keep it at the bank, they came up with Keep the Change which caused customers to open savings accounts and build them up. The deal closed, and they don't promote it anymore. They would have been better off watching their balance sheet. KRB cost BAC $35 billion, and Friday the market cap of all of BAC was $39.7 billion.