Ready for the CASH (Immigration) FLOW?

Toes to the fire, and customers dropping accounts. Bank of America (BOA) is holding true to their promotional campaign for allowing Illegal Aliens to obtain credit cards through their LA branches. Kenneth D. Lewis Chairman, CEO and President, stated that they will go ahead with their program on a promotional basis, despite emails and letters from angry BOA account holders.(Although I know that there are illegals from places other than Mexico, BOA's move to place this basically in the LA area it is meant to draw from the Hispanic illegal aliens, thus the flag on the logo.)

Many account holders have started to go through the withdrawal procedures to close their accounts with BOA and have them moved to other banks, banks that do not cater to illegal immigrants. BOA however seems to think that this will be a good move for them.

My opinion is this, it might draw them in more customers from the illegal side of the border(s) since it is not requiring them to have a SSN# (which is standard practice toward Americans), green card or any other means of identification. But the problem arises in the aftermath. Let's say that BOA's campaign is successful. Let's say that it draws in around 2 million new illegal customers, probably a little high, in the next six months or so. Now these individuals start running up their accounts into the millions of dollars, what happens next? Well, how about since they are illegal, and do not want to give legal addresses, they don't make any payments on their accounts. Who do you think is going to pick up the tab for these delinquent accounts? Why us hard working Americans of course, and those "Legal immigrants" that are working through the system that are lucky enough to get an account.

Now, I am not a mathematician or schooled in accounting, but I don't think that you have to have a degree to figure out that this move is doing two things. One, it is going to call for more illegal aliens to make their way into the U.S., simply due to the fact that they will now have something that millions of Americans bust their butts for every day, "CREDIT". And since they want to make it hard for the US Government to track them, most of their information will be phony; since it can not be checked through a SSN# - WHO WILL KNOW THE DIFFERENCE? Secondly, there will be a definite impact on the economy from this. Oh there might be an upward spike for a short period of time, but in the overall picture it will draw it down; and those that stay the course with BOA will feel the pinch.

BOA is making a mockery of our financial institutions by going forward with this program. Personally, I feel that if illegal aliens are able to get credit without proper identification, why shouldn't I? If they can get hundreds maybe thousands of dollars of credit, why can't I? If I don't pay it back, I can guarantee they will be coming after my arse. Yet, how do they plan of compensating their loss that they will suffer from this? Have they told their customers how? Probably not since so many are closing their accounts.

One thing is clear though, BOA will have to change their name. As the picture at the beginning of this post shows, they will or should change it to the Bank of Illegals. And their motto should be "Helping America grow through Illegal Immigration". Thank God for small town banks that are not associated with BOA/BOI.