B of A Strikes Again! Outrageous

Wow, as ranted on in a previous post, these fatcats really don’t get it…

How much has B of A gotten from us the taxpayers at this point–$25 billion and then another $25 billion recently to help clean up the Merrill Lynch mess? Check out a previous post on that little detail. You remember Merrill CEO John Thain tanked his  company, sold it to B of A, ran up another $15 billion in 4th quarter losses and then, fired [laid off–what do you say when a big time CEO is jettisoned?]  by B of  A, he first made sure to dole out $4 billion in bonuses to his loyal cohorts. Can’t get too much more clueless or, more likely,  arrogant than that…

But wait, maybe it is possible…Three days after receiving  the first $25 billion from us, the unwashed masses, the inarticulate  taxpayers, the bigwigs at  B of A, along with some fatcats from AIG [remember them?] hosted a conference call with some conservative activists and business representatives. The purpose? Why to make sure that labor’s most cherished legislation would go down in flames, The Employee Free Choice Act, which makes it easier to sign up union members.

Much bushwa has been spewed about unions, mainly, I would guess, from people who don’t need one, who are already rich. The simple fact is that as union membership has declined precipitously in this country, so, too, has the middle class’s slice of the pie. We’ve all heard by now that during Bush’s years the top 400 richest  Americans paid less than 17% of their incomes in taxes while doubling their median incomes to over $2.4 million.  At the same time, middle class income has declined by a median of $2000. Without unions it’s going to go down even further because without unions workers do not stand a chance against well-heeled employers.

Most taxpayers are middle-class or poor and many of these would benefit from unions. So what nerve of  B of A and AIG, beneficiaries of the collective largesse of the American taxpayer, to urge their listeners to send political contributions against the passage of these bill as well as to “vulnerable” Republican campaign war chests. Talk about biting the hand that feeds you

Companies generally have a right to urge others to vote however they want. But, these companies are no longer private. They now belong in large part to the taxpayer. At the very least, their leaders had better shut up about which political party to vote for… How did it happen that Republicans became “vulnerable”, for instance? Even better, these short-sighted, rapacious money-grubbers should start thinking what they can do for the country that just saved their companies’ collective butts  rather than what they can do for themselves…

Anyway, I ‘m mad and I’m not going to take this anymore. B of A needs to straighten up and behave like a good corporate citizen.

B of A–bah, ptui!    images4

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