"Bank of America OK’s raises for 3 executives" by Associated Press | February 3, 2010
PORTLAND, Ore. - Bank of America Corp. yesterday said its board had approved base salary increases for its chief executive and two other executives.
CEO Brian Moynihan’s base salary will increase to $950,000 this year from $800,000, according to a regulatory filing. Additionally, the base salary for Joe Price, president of consumer, small business, and card banking, will increase to $800,000, from $500,000. Barbara Desoer, president of Bank of America home loans and insurance, will receive an identical increase to her base salary.
The increases were effective Jan. 1 but do not reflect full compensation by the company, as they do not include stock perks and other forms of payment.
So HOW MUCH LOOTING is ENOUGH, BoA?
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Not done yet:
CHARLOTTE, N.C. - Bank of America Corp. will pay investment-banking employees bonuses of about $4.4 billion for last year, or an average of $400,000 each, a person close to the bank said yesterday....
What did YOU GET for a BONUS this year, American taxpayers?!!!!
Bank of America, the target of political wrath for its acquisition of Merrill Lynch & Co. even as the faltering Wall Street firm handed out $3.6 billion in employee bonuses, reaped a $6.3 billion profit in 2009....
Oh, REALLY?!!!
I guess my NEWSPAPER was or is LYING AGAIN, huh?
Oh, btw:
“They shouldn’t be paying record bonuses if their earnings are under water’’
Oh, do you KNOW WHERE that money came from, taxpayers!
"Bank of America faces fraud lawsuit; Ex-CEO cited over Merrill deal" by Andrew Caffrey and Todd Wallack, Globe Staff | February 5, 2010
The New York attorney general yesterday accused Bank of America Corp. and its former chief executive, Kenneth Lewis, of deceiving shareholders and manipulating US officials during the company’s $50 billion purchase of Merrill Lynch....
The lawsuit suggests that in December 2008, Lewis’s successor, Brian Moynihan of Wellesley, Lewis, and Joseph Price, the former chief financial officer, strategized how to get federal money to cover Merrill’s mounting losses.
“Lewis and his lieutenants Moynihan and Price calculated that if they threatened’’ to invoke a legal clause to back out of purchasing Merrill, “the federal government would counter with more taxpayer funds out of a concern for the greater economy,’’ the lawsuit, filed by Attorney General Andrew Cuomo in New York state court, said....
Yeah, and BoA didn't give a SHIT about the ECONOMY, did they?
They only cared HOW MUCH TAX LOOT they could STUFF in their POCKETS!!!!
After shareholders approved the purchase, bank executives realized they had misread Merrill’s condition, the lawsuit contends. So they launched a campaign to get taxpayers to bail them out by threatening US officials with canceling the deal - something federal regulators feared would have a dangerously unsettling effect on Wall Street.
What about the UNSETTLING EFFECT on the AmeriKan taxpayers, huh?
Oh, right, NO ONE DOWN THERE CARES about US!!!!!!!
The lawsuit contained excerpts from bank documents, records of meetings and conversations, and e-mails that also reveal the chaos of the times, when the financial system was in near panic from a growing credit crisis that toppled some of Wall Street’s most storied institutions....
PFFFFFFFTTT!
Bank of America spokesman James Mahoney said, “There was no scheme to defraud the government. On the contrary, there was a joint effort with the government to avoid a catastrophic failure of the financial system.’’
Sigh.
I'm SO SICK of S*** LIARS!!!!!!!!!
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Is that all you greedy f***s understand?
