Friday, September 09, 2011

Report: Bank of America job cuts may hit 40,000

Bank of America Corp., reeling from concerns over the size of its liability from troubled mortgages, has discussed cutting up to 40,000 jobs over several years as CEO Brian Moynihan battles to reduce expenses with a sweeping restructuring plan, the Wall Street Journal reported on Friday. And i thought they continued to enjoy record profits from the ongoing bailout subsidy programs? I guess if the taxpayer is powering your business with free money, you don't need so many employees doing work. As we all know, nothing was fixed in the 2008 manufactured crisis. The endemic problems that provided cover for the massive bank bailout fraud continues to increase exponentially. But, we're assured, this time it's different. The last crisis was timed for the end of the election year. Perhaps this one will take place in the summer of 2012. But what will they steal from us this time? With fiscal responsibility being the election year meme, the banks may need to set their sights on other sources of wealth. There's a lot of gold hidden in IRAs, 401ks and pensions. Maybe the times has come for a little retirement raiding? It's not loike that haven't done it before.

5 Comments:

At 2:13 AM, Blogger Ranch Chimp said...

Good Morning Jack (lil past 4 am) up early because I have alot of miles to drive today across the Lone Star State, business of course. But I heard breifly about this yesterday or the day before on KRLD news radio driving down North Central Expwy ... I was thrilled when they were talking about it, only because of the thought of downsizing any of these bloody too big to fail entities, I have became so desperate, that anything that is not a merger to increase size and dominance to me is a blessing in disguise, despite the workforce decrease ... I know that must sound odd, but my thinking is odd Jack.

Thanx Guy .... Damn it's been beautiful weather here on the Ranch this week, eh?

 
At 11:48 AM, Blogger Suzan said...

Correctamundo, my friend.

And Social Security and Medicare are ON DECK!

(Medicaid has already been sacrified to the bankster/healthinsurester gods.)

Batter up?

S

And i thought they continued to enjoy record profits from the ongoing bailout subsidy programs?

 
At 4:50 PM, Anonymous Publius said...

Weaseldog said:

"Climate scientists have models that explain those warmings to one degree or another. The current warming doesn't fit those models. Those models don't predict the current rise in greenhouse gases."


There are also econometric models that said Obama's big Keynesian stimulus bill would bring unemployment down below 8 percent.

lol on these people who have bullshit jobs producing bullshit models for their bullshit government agencies.

 
At 10:28 AM, Blogger Dave Dubya said...

Funny how the Right bitches the loudest about taxes, yet so many of our tax dollars go directly into the pockets of those loudest whiners.

 
At 10:44 AM, Blogger Weaseldog said...

No kidding Dave. I think Hypocrisy is a required Republican Virtue...

 

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