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Bank of America isn't exactly part of Wall Street. When I think of Wall Street, I think of the big (and not so big) investment banks. While their stocks are(c
by pyoung 15y ago
Bank of America isn't exactly part of Wall Street. When I think of Wall Street, I think of the big (and not so big) investment banks.
While their stocks are(currently)down, and most of these banks are laying off employees, I think the hatred stems from the fact that these investment banks profited from the inflation of the housing bubble, and for the most part walked away clean, despite the fact that their actions were borderline criminal.
edit: Bank of America, is technically involved with investment banking, however that is because they acquired Merrill Lynch during the collapse. Before that, i believe that they were strictly retail.
- jrockway 15y agoBank of America owns Merrill Lynch, which is a pretty big investment bank.