Where did all that bailout loot go?
"How about we all go back to doing our business in CASH and let the banks and their plastic fade into history? I mean, think about it. We were all encouraged to put our money in the banks and use checks and cards because it would be safer than carrying our money around with us all the time. But with all the cyber-crime, hackers, identity theft, are we not in MORE DANGER of losing our money using these alternate methods?" -- Wake the Flock Up
Here, here, and have the states stop going into debt to pay general services, corporate welfare, or anything else. The only ones benefiting there are the bankers."Bank of America sees changes ahead" by Associated Press | July 29, 2009
CHARLOTTE, N.C. - Bank of America Corp. could eventually shrink its 6,100-branch network by about 10 percent as consumers utilize other methods of banking, a company spokesman said yesterday.
Bank of America spokesman James Mahoney made the comments when asked about a published report that CEO Ken Lewis and another bank executive described such a plan to investors at a meeting last week in Charlotte, N.C., where the bank is based.
The move would be a pullback from the bank’s two-decade expansion, most recently under Lewis’s command, which expanded the bank from coast to coast.
Mahoney said: “What took place was a discussion about the long-term direction of the company. Over the longer-term, as customer demands evolve, we see a fewer number of branches that provide more services.’’
The bank does not have a specific number of branches that will ultimately compose its franchise, Mahoney said, adding there’s no immediate plan to close 10 percent of the bank’s branches.
Mahoney said: “In response to a question from an investor on the magnitude of branch closings, Lewis did acknowledge that the range could be potentially 10 percent.’’
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