As Obama Discusses His Job Creation Plan, Bank Of America Releases Details Of 30,000 Job Cuts

Tyler Durden's picture

Your rating: None

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Mon, 09/12/2011 - 11:36 | 1659781 CrimsonAvenger
CrimsonAvenger's picture

Unnecessarily harsh. I agree that the system has to blow up and that there's some serious evil behind the scenes, but the people about to get the axe aren't the masterminds - they're poor dumb saps like you and me, trying to get the best pay they can in this world. They're just in the wrong place at the wrong time.

Lighten up and have some compassion.

Mon, 09/12/2011 - 12:11 | 1659894 FreedomGuy
FreedomGuy's picture

I agree. In an economy everything is connected to everything whether its proximal or distal. A couple local branches close and the sandwich shop and garage go belly up, too. These things have ripples.

I wouldn't mind the management class who made the stupid decisions being unemployed, but they got their cash and they always escape or are at least insulated.

Mon, 09/12/2011 - 12:20 | 1659919 e-recep
e-recep's picture

Do you really believe that they wouldn't do the same if they were in the shoes of the top devils? Guillotine for all bankers and financiers! Now!

Mon, 09/12/2011 - 12:22 | 1659932 CrimsonAvenger
CrimsonAvenger's picture

Okay, so that whole "innocent until proven guilty" thing, not such a big hit with you. Got it.

Mon, 09/12/2011 - 11:50 | 1659847 LongBallsShortBrains
LongBallsShortBrains's picture

"Fuck the paper-pushing fucknuts, they made a deal with the devil, time for your souls motherfuckers.  A step in the right direction as far as I am concerned."



I don't think they have souls. 


I like your idea but I wouldn't fuck those paper-pushing fucknuts, even with Robottrader's tool.



A small step in the right direction... I agree.

Mon, 09/12/2011 - 20:08 | 1661864 StychoKiller
StychoKiller's picture

Yo, I find your avatar...disturbing. (Meatbag!)

Mon, 09/12/2011 - 11:29 | 1659720 vast-dom
vast-dom's picture


Mon, 09/12/2011 - 11:23 | 1659721 aerial view
aerial view's picture

Please, just lay off all your workers and the world will be better off!

Mon, 09/12/2011 - 11:23 | 1659722 Falcon15
Falcon15's picture

Obama speech - EPIC FAIL. BoA going down in flames - burn, baby, burn. Please, sir, may I have another?

Mon, 09/12/2011 - 11:23 | 1659723 Cdad
Cdad's picture bankers....FASTER!  Why put off until 2012 what the nation needs done today?

Mon, 09/12/2011 - 11:27 | 1659736 doomandbloom
doomandbloom's picture

in the hope that people will forget and forgive by then...

look at the new UK regulations ( to ringfence Investment banking)..which needs to be done by 2019!!! what a joke.

Tue, 09/13/2011 - 06:19 | 1660086 MsCreant
MsCreant's picture


Mon, 09/12/2011 - 11:23 | 1659725 boiltherich
boiltherich's picture

Maybe SocGen will bail them out eh?  Or Unicredit. 

Mon, 09/12/2011 - 11:24 | 1659727 SparkySC
SparkySC's picture


Gotta go through pain first so there may be a chance of healing in the future.



O'Bummer is fixing the unemployment issue one job cut and plant closing at a time.


Mon, 09/12/2011 - 11:24 | 1659729 Aloysian
Aloysian's picture

In March 2012, New BAC would go straight to Phase Fuckup Infinity

Mon, 09/12/2011 - 11:26 | 1659735 digalert
digalert's picture



CONgress and Holder now call for BAC officials to testify under oath, why they demean the TOTUS and Barama too, during his victory lap, world saving jobs plan. Buffet said to attend hearings.

Mon, 09/12/2011 - 11:30 | 1659760 Ruffcut
Ruffcut's picture

Testify under oath? Like that means anything. In front of their own suckasses.

Are members of congress included in the 30k layoffs??

Mon, 09/12/2011 - 11:27 | 1659737 Havana White
Havana White's picture

Is this like New Coke?

Mon, 09/12/2011 - 11:27 | 1659743 slackrabbit
slackrabbit's picture

A little bit a bad news...and a bit a badder news

Mon, 09/12/2011 - 11:28 | 1659744 LongSoupLine
LongSoupLine's picture

This is why Saturday Night Live ratings are down...the real-life skits are funnier.

Mon, 09/12/2011 - 11:30 | 1659758 mayhem_korner
mayhem_korner's picture

Nice avatar, Soup.

Mon, 09/12/2011 - 11:30 | 1659761 SheepDog-One
SheepDog-One's picture

Impossible to out-skit reality today.

Mon, 09/12/2011 - 11:28 | 1659745 machineh
machineh's picture

Relax -- these 30,000 well-trained bureaucrats will be eminently qualified to move into higher-paying government jobs.

Mon, 09/12/2011 - 11:28 | 1659746 tocointhephrase
tocointhephrase's picture


Mon, 09/12/2011 - 11:28 | 1659748 buzzsaw99
buzzsaw99's picture

lay off peons so execs kin haz bigger bonus.

Mon, 09/12/2011 - 11:49 | 1659838 Josh Randall
Josh Randall's picture

Attrition will continue untl morale improves

Mon, 09/12/2011 - 11:29 | 1659751 Caviar Emptor
Caviar Emptor's picture

We need to hire  more people to process unemployment claims! 

See? There's a silver lining if you look for it

Mon, 09/12/2011 - 11:36 | 1659783 The Third Man
The Third Man's picture

from the hilarious Cheech & Chong album, Sister Mary Elephant:

....Now class, Sister Rosetta has informed me that your assignment for the last two months has been to write an essay in titled How I Spent My Summer Vacation. Who would like to read theirs before the class?
Class? Class!? Cla-- SHUT UP!!!!! Thank you.
Young man in the first row, stand up, state your name, and read your essay.

Who me?

Yes. Read your essay, please!

Uh, I don`t have it finished yet.

Well then, read what you have, young man!

Okay. The first day on my vacation, what I did on my summer vacation, the first day on my vacation, I woke up. Then, I went downtown to look for job. Then I hung out in front of the drugstore. The second day on my summer vacation, I woke up, then I went downtown to look for a job. Then I hung out in front of the drugstore. The third day on my summer vacation, I woke up...

Now that`s fine, young man!

...Then I went downtown to look for a job...

Now that`s fine, young man!

...Then I got a job, keeping people from hanging out in front of the drugstore. The fourth day on my...

Mon, 09/12/2011 - 11:29 | 1659752 PulauHantu29
PulauHantu29's picture

Shovel ready jobs waiting for them.

Mon, 09/12/2011 - 11:29 | 1659753 Cursive
Cursive's picture

Sweet irony.

Mon, 09/12/2011 - 11:29 | 1659754 mr1963
mr1963's picture

They have to pay the government levies, fines, and regulations somehow. Straight transfer to the government...

Mon, 09/12/2011 - 11:29 | 1659755 SheepDog-One
SheepDog-One's picture

Yes, but I heard a new QE3 rumor today! All is WELL!

Mon, 09/12/2011 - 11:33 | 1659769 EscapeKey
EscapeKey's picture

More anti-perestroika.

Mon, 09/12/2011 - 11:30 | 1659757 cabtrom
cabtrom's picture

Yea soooooo, unemployment insurance picks up the tab now. We the taxpayer STILL footing the bill right? Isn't this revenue neutral?

Mon, 09/12/2011 - 11:36 | 1659778 LawsofPhysics
LawsofPhysics's picture

I'll take revenue neutral over the revenue-negative bailout option.

Mon, 09/12/2011 - 11:31 | 1659764 csmith
csmith's picture

Everyone is asking for "specific" examples of employers refusing to hire (or laying people off) as a result of the regulations promulgated from DC. BAC's announcement today is exhibit "A". Dodd-Frank is crushing the fee income line for major retail banks and this is one result.

Mon, 09/12/2011 - 11:36 | 1659784 snowball777
snowball777's picture

Logic FAIL. Dodd-Frank didn't make BAC have insufficient reserves for their legal troubles, dumbfuck.


Mon, 09/12/2011 - 11:39 | 1659794 11b40
11b40's picture

"Dodd-Frank is crushing the fee income line for major retail banks"

Which, I might add, should not even be a part of regular banking. 

Bring back Glass-Stegall.

Mon, 09/12/2011 - 14:19 | 1660305 DaveyJones
DaveyJones's picture

there was a period of time, a short one, where you would hear some of the losers on this hill talk this talk. Like our ethics and our budget, it has all but disappeared

Mon, 09/12/2011 - 11:31 | 1659765 Dineroguru
Dineroguru's picture

Quick-- Get Moynihan a good seat at the next Obama job conference.  Put him up there next to the other cronies in the Cabal like Buffet, Imelt, Dimon etc.

Mon, 09/12/2011 - 11:31 | 1659766 Caviar Emptor
Caviar Emptor's picture

We need more shovel ready dudes to shovel the horse manure.....that makes them entre_manuers!

Mon, 09/12/2011 - 11:37 | 1659789 machineh
machineh's picture

Entremanuers are indispensible in a merde_ocracy!

Mon, 09/12/2011 - 12:17 | 1659914 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

She was only the farmer's daughter but all the horse manure.

Mon, 09/12/2011 - 11:35 | 1659771 Cdad
Cdad's picture

News Flash.....BlowHorn [CNBC]...11:30 est...Europe go home crowd:

"We're off our lows."  No shit?

Sorry....I have yet to have my US govt. issued frontal labotomy...and so cannot buy the fucking.....ramp [BTFR].

Mon, 09/12/2011 - 11:44 | 1659816 Cdad
Cdad's picture

Europe Goes Home trade last exactly 7 minutes before sell aglos resume.  Nice.  There goes yet another criminal syndicate Wall Street investing myth.  The half life on that one is about...what...a month?

Please fire 60,000 BAC empolyees Mr.

Mon, 09/12/2011 - 11:51 | 1659848 Cdad
Cdad's picture

NEWS FLASH....Peter Costa....NYSE floor:

"We're just floating on air."  Meaning...invest in Floating on Air?  WTF?  I'm not familiar with the FOA trade.  Anyone?

NEWS FLASH...Peter Costa....NYSE floor...speaking in tongues on techs called.

Mon, 09/12/2011 - 12:08 | 1659879 SheepDog-One
SheepDog-One's picture

Invest on tightrope walking across the Grand Canyon on an old frayed rope! INVEST minions, INVEST!!

Mon, 09/12/2011 - 11:34 | 1659773 the black arrow
the black arrow's picture

I was a bac customer years ago.Seemed to me, at least where i live , there wernt americans working there. Fewer banks and bankers can only be a good thing.

Mon, 09/12/2011 - 11:34 | 1659774 lunaticfringe
lunaticfringe's picture

This is all pro-active. I am positive that BAC is an acquistion target. I don't know what makes me happier- Warren screwing the pooch or the US taxpayer getting stuck with this zombie mess. Make Goldman take it. Fuckers.

Mon, 09/12/2011 - 12:52 | 1660022 Greater Fool
Greater Fool's picture

Ha. Goldman would rather have an outbreak of chronic explosive diarrhea than (a) a commercial bank's operations, (b) a commercial bank's balance sheet, or (c) what remains of ML.

There is a reason Citi never really "sold itself," except to Treasury. Nobody who's big enough to do it wants anything to do with that mess. Except maybe China, but it'll be a cold day in hell before Congress lets that happen.

Do NOT follow this link or you will be banned from the site!