Wednesday, October 19, 2011

A $45 billion taxpayer bailout rescued BOA from bankruptcy in 2008-09. Now BOA is returning the favor:

"Bank of America reported a $6.23 billion profit for the third quarter"
---Nelson D. Schwartz, NY Times October 18, 2011

"Bank of America announced it would lay off 30,000 employees, as part of a wide-ranging plan to save $5 billion in annual costs by the end of 2013."
---Susanne Craig, NY Times October 18, 2011