Tag Archives: Illinois

BofA Cuts Off Bankrupt Illinois

 

Don’t think government debt and insane continued spending in the face of huge un-payable deficits have consequences? Think conservatives are just scare-mongers exaggerating all this stuff so they can take entitlements away from poor people? Well, time to face facts. Here’s an email from an Illinois government employee discussing the impact of the state being cut off by Bank of America. That’s right, cut off! You see, BofA is sick and tired of not getting paid by a state  that is in arrears more than NINE months to most of its creditors. Why are they letting their bills go 270 days past due? It’s not just the normal government ineptitude. That would only result in 90 days past due. No, this is because they are flat dead broke people! (Please note the typos and poor spelling are this state worker’s, not mine).

Folks:

Not to send panic, but just a heads up to each of you as to what’s happening.

Bank of America is cancelling the contract with the State of Illinois effective April 22, 2011. They will not do another contract extension for the State of Illinos. So what does that mean? On April 23, 2011 at 12:01 a.m., the cards currently held by IDPH employees will no longer be valid. The State has been trying to finda new vendor, encourage BoA to give us a few more months, but as of this writing has been unsuccessful on all fronts. So what does this mean to our travelers? Most establishments will not direct bill especially conferences, prior approval needed by travel office for this process so persons required to travel will have to put charges on their personal charge cards or set aside personal funds on prepaid travel card, or pay cash out of pocket. For those who are non-GRF [General Revenue Fund] this should be not big deal, but to those traveling on GRF, this could have an impact.

One additional details are received. I will share that information with you so that you can share with our travelers.

Unti then . . . this is just a heads up!!!!

I have to laugh at the idea that state workers are supposed to start using their own credit cards and submitting for reimbursement. Would you run an expense report for an employer that couldn’t pay its bank (or anyone else) in less than 9 months?

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