CrusaderFrank
Diamond Member
- May 20, 2009
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BofA got $5B increase on their Tier 1 capital, that, along with shedding 30K employees will help them weather the coming storm. I think Greece and Italy will pull the EU down with them later this year or early next and it won't be pleasant in Europe or the USA.
In case you didn't notice, some banks did well under TARP, others went bust. Bear, Lehman and Merrill no longer exist, but Goldman, Chase and BofA continue.
And how exactly does that work in their interest to eliminate 30,000 consumers?
This kind of proves that companies are only in it for themselves. They have no interest in job creation, only shoring up their money reserves.
It started early in the Bush administration, when companies like Hewlett Packard, under Carly Fiorina, began to almost capriciously lay people off. They did this while they were profitable, and solely as a proof of concept. This began a cyclical collapse of employment in this country.
Right, layoffs started after Bush stole the Florida chads