Reply #7: No, because I don't know the scoop yet,

[DeschutesRiver]

What I know for a fact is that this company is accountable for running its business responsibly. If Republic is required to give 60 days notice to workers, then unless BOA pulled the loan unexectedly, Republic screwed these workers by knowing that it was in a precarious situation and likely to run up to and past its loan limits, and decided to shutter without notice to save the owners. Maybe they can duck pensions as well this way - I don't know that yet.

So I want to know what happened first, to see if BOA is culpable. But the first responsibility isn't charged to the freaking banks on this, it is the company's management and owners. If for whatever reason, the business was no longer viable, they had a duty to shutter it responsibly with notice. Not get people whipped up by pretending the bank was at fault, which of course automatically caused BOA to be a whipping boy on this.

I did just hear on the news where a worker said they had major issues with the company's actions as well. I suspect BOA is being dragged into this because of the sheer inequity of how much of our damned tax dollars was given to them to loan out, and yet they aren't yet loaning much more out. OTOH, I expect them to loan my dollars out more carefully than they did in the past, and I don't want to smack them for doing so in this situation, if it turns out that Republic was no longer creditworthy or making their payments, or on the verge of collapse and trying to scam the bank out of larger loan limits.

Anyhoo, this story is missing huge facts that could shift my opinion radically. I suspect there is a bunch more behind the scenes we aren't privy to yet, and if they want my sympathy with regards to BOA, they better spit 'em out. Because right now, I am holding the company responsible; it shouldn't be taking company reps this long to spit out exactly the terms of their loan, what BOA did/didn't do in great detail. But I haven't heard much other than vagueness from them - words used to incite the workers and try to deflect criticism from them to the bank.