"Bank of America Would Also be Prohibited From Riding the Gravy Train of Pinstripe Patronage"

Here's yet another problem with the government 'bailouts' of the Banks...and it don't bode well for the future.

Bank of America was one of the TARP recipients.

Over the last few weeks, they decided to turn off a line of credit for a Chicago manufacturing plant which was then forced to close its doors.

Its workers, scared they would not get their due vacation and severance pay, have staged a sit-in, which has gotten the attention of lots of attention seekers, like Rep. Louis Gutierrez, who are now stepping in and trying to dictate just how BOA should do business.

I'm not smart or informed enough to know exactly how much BOA is directly responsible for the decision to close the company's doors or how much control it has over money paid out to the employees here, but it seems to me that if this tactic works in the Windy City for employees, we could be in for a very bumpy ride going forward, with lots more ad hoc government intervention in how banks do business.

Buckle up.