How Bank of America intends to dump their Debt onto America?

I just realized something, Bank of America broke many law's since what 2005, giving home loans to illegals.

Technically, the Federal government can seize all of Bank of America's "asset's". www.progress.org...

And since debt is an asset along with all those homes sitting empty or in foreclosure.... I guess this isn't a super well thought out idea like many of the ideas here, but it is a possibility. A very,very alarming possibility. As it would absolve Bank of America of massive amounts of debt and fix Congress and the President's approval ratings as people will think the Pres is "finally going after the banks".

Or maybe I should just keep my mouth shut so the evil bankers don't get any ideas? Either way, the fact that this is a possibility leaves a bad taste in my mouth...

Originally posted by korathin
Technically, the Federal government can seize all of Bank of America's "asset's".

True enough, but first they will split off the profitable parts of the business to another holding company, leaving "Bank of America" with the debt ridden parts.

Has this happened yet?