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Thread: Bank of America Confirms 30,000 Layoffs

  1. #41
    Councilman's Avatar
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    Apr 2009
    Riverside, County, CA.
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    Re: Bank of America Confirms 30,000 Layoffs

    This sure doesn't match some posts I have seen in recent days about what a great job Obama is doing does it.

    We have to replace Obama ASAP because his verbal attacks and threats to big business are have a negative effect on the economy and his BS about an all new wonderful plans to get things moving is fooling no one.

    When a Bank the size of B.O.A. dumps 30,000 people it will have a very negative effect not only the job numbers but the economy as a whole, and possibly really be bad news on a local level that spreads to others not directly connected to B.O.A.

    This has bad long lasting connotations for the future, I hope I am wrong but bad news is mounting.

  2. #42

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    Slightly Liberal

    Re: Bank of America Confirms 30,000 Layoffs

    Quote Originally Posted by washunut View Post

    As I mentioned above, there were no regulations in place for regulating derivatives, and to the extent that they may be regulated they generally fall under the purview of the SEC and the CFTC -- not the Fed. Some have suggested that derivatives *should* be regulated by the Fed, but they were not during the housing bubble. Senators
    I am not putting it all on the Fed just using some examples. Also not so much the regulation of derivatives but how they were viewed as a shield against losses thus making certain risky assets have to hold less reserves, allowing more leverage.

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