Bank of America cheats big and small alike. $35 a pop from me and you. $15 billion from the US government (our tax money).
firedoglake.com:
Ah, the sweet smell of your TARP money being used to batter the US economy senseless. First Bank of America gets $15 billion of TARP funds, and issues $9 billion worth of bonds guaranteed by the FDIC, then it spends $7 billion to buy a big stake in a Chinese bank. Now Bank of America announces it's laying off 30,000 to 35,000 workers. ... [...] ... —if a company is in good enough shape to be doing acquisitions, it's in good enough shape that it shouldn't need Federal help.
Congress, it's time to take this money back. NOW!
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