Sunday, February 5, 2012

Ha-Ha! Struggling Bank of America May Liquidate All of Its Real Estate Holdings

Here's a story to warm the hearts of anyone who despises America's big banks for all of the damage they have wrought upon our economy. The Atlantic Wire has the details:
A week after news broke that Bank of America Plaza in Atlanta was facing foreclosure, the financial giant is thinking about selling almost all of its real estate. "We are currently reviewing all of our properties across our portfolio, with the exception of Bank of America Corporate Center in Charlotte and Bank of America Tower at One Bryant Park," a spokeswoman told Bloomberg on Friday. It's all a part of chief executive Brian Moynihan's process of "reevaluating the bank’s real estate needs as he eliminates at least 30,000 positions and seeks to trim as much as $8 billion in annual expenses."

Turns out it's pretty expensive to rip off your customers, help cause a recession and then have to pay America back through SEC settlements.
I couldn't have said it better myself.

Bonus: Dedicated to Bank of America


  1. assholocracy indeed.

    Check out this guy's artwork - BoA got all butthurt about it lol -

  2. Damn it, I though they were selling their MBS portfolio. I's pay 10c on the dollar for a couple of them.

  3. True Bill but sadly, as usual, the ones to pay for this mess are the workers who are about to get booted out the door.