The acquisition of Countrywide and the financial mess that came with it. Layoffs have nothing to do with bringing in cheaper talent from India.
13 replies (most recent on top)
Brian only knows have to cut head count or sell off assets. There really isn't anything original in what he is doing
So is BM incompetent or just doing the best he can given the circumstances?
BAC was forced to buy Countrywide. If BAC hadn't co-mingled funds with Countrywide in the correspondent lending department they could have filed for bankruptcy protection from that debacle of a company. And, yes, the management (crooks) of Countrywide should have paid for their crimes instead of being given a 'golden parachute'!!
Honestly the whole place sucks, the managed to cultivate the worst fro. Every acquisition, chl, Mbna, ml and fleet. The fleet clowns are now running the show
To 1pit...those 3 posts hit a nerve. Maybe they know what they are taking about.
How much has the CW debacle cost 80 BILLION? 100 maybe?
CW was a criminal organization and who gets to the op of the mountain? a scum like Tony Meolo. surrounded by cronies who care more about their fat bonuses than the hard working people they let go. It's not about the customer, it's not about the people, it's not about the shareholders. it's about how much cash Meolo can put in his fat ass
To the first three posts on this tread.
F--- you about your CW comments.
BOA .. BAC, was always a sh-- hole !
How arrogant of you little pricks .....
I miss the OLD BOA too back when Hugh McColl was the CEO. It seemed as though since he left the bank has went downhill with caring about their employees. If I didn't have bills and student loans to pay I would the hell out because these senior leaders have no heart, care and do not appreciate the employees.Apparently, Brian and his senior leaders are all greedy and have forgotten that if it wasn't for us little folks that actually do the work is why they continue to get millions in raises.
Love BAC before nations bank aquisition even better.
I miss the old BOA. It was a decent place to work before countywide
And the Toxic CW employees that they kept!
Even with the housing meltdown, legacy BOA would have been in a much stronger position if we didn't have the toxic drain of CW.