[Prince]

Looks like Bank of America is now expanding its plan to offer credit to any dirtbag illegal that comes in to the branch. No SSN is needed, and you don't need to be a citizen.

It's amazing how corporation will sell out an entire country just to make a few dollars from anyone that breathes. I'm not surprised at all, just pissed and disappointed.

Bankng on illegals

Credit to illegals

$this->bbcode_second_pass_quote('', 'T')he bank's program may be controversial, but it also vividly demonstrates that businesses view the country's estimated 12 million illegal immigrants not as lawbreakers but as customers.

[Kingcoal]

Actually the federal government is encouraging this. The idea is to enfranchise illegal aliens who are productive in society and, most importantly, to document them. If they are productive, working, making money, the next step is a social security number and filing tax returns. The credit card is a carrot if you will towards establishing a credit history then perhaps home ownership, government bennies and finally income taxes.

I'm not against it. My ancestors simply landed in Philadelphia, trekked north to Pennsylvania's rich farmland and began doing what they knew; farming. Of course back then there was no 911, no requirement of hospitals to treat everyone, no welfare, no social security, nothing. The only thing you got from the government was protection from foreign enemies.

[emersonbiggins]

Bank of America has been giving mortgages to illegals for a couple of years now.

[cynicalheretic]

Sing with me *god bless America

[perdition79]

Bank of America is doing a great thing. With illegal aliens catalogued by financial institutions, it will be that much easier to round them up and ship them out.

[seldom_seen]

This is prima facie evidence that our economy is a ponzi scheme.

They know there will be backlash against this, but they have no choice. They've got to keep building up the bottom of the pyramid to keep it from collapsing.

This is scary to me, not that they are giving credit cards to illegals, but that the US banking system is on such unstable footing.

If you have lots of cash sitting in a BofA account. Don't be surprised if one day your assets are frozen and you can not get your money.

This story is a bullhorn shouting buy gold, your money is not safe sitting in a bank.

[pea-jay]

Like others said here, this isnt an illegal immigration issue, its the financial industry's ever more desperate attempt to stave off collapse. It's not just cards and mortgages, cars get financed this way too. Dont need papers there either. I saw this everyday when I lived in the San Joaquin valley. Farmworkers would drive themselves to the jobsites in shiny new vehicles. Vehicles that were "generously" sold to them with long loans, bimonthly or weekly payment plans and other tricks to get even the desperately poor into their own ride at 20% interest. Sure a number of workers drove absolute wrecks or even better carpooled, but a significant portion drove new vehicles.

My point is, the industry has run out of easy customers (wage earners 25-60) so theyve had to branch into the fringes to ensure continued growth. Remember, the pyramid always has to grow or the whole thing collapses. Thats why you see more loans to the young, the elderly, the poor, the undocumented and so on. ALso now you see loans for stuff people bought outright. You can get a loan to go to Disneyworld from disney itself. The crap sold on TV late at night can be purchased for "six easy payments of 29.99" which also is a loan.

Anything to keep the economy going.