Bank Of America To Cut 30,000 Jobs As Part Of Restructuring Plan

My nephew (a Republican­, of course) was offered a job at BoA last week in Pittsburgh . . . huh, I’m not sure what position it was . . . but he currently works as a paralegal. Sounds like things are booming in the foreclosur­e dept.

jamenta
Comments (8009) | Friends (1556)
I don’t have the statistic in front of me – but it’s over 10% of homes are vacant across the country due to foreclosur­es.
So we have all these homeless and struggling Americans who can’t pay their mortgages due to not enough jobs in the country. Some of the homeless are sleeping on church benches with their families – and down the block is an empty home owned by one of the Big Banks – and there are millions of empty homes.
Something is rotten in this country. My guess it is uncontroll­ed greed.

mothergrace replies to jamenta
1077 Fans
02:43 PM on 9/12/2011
Although considerin­g how the paperwork was sliced and diced there is even a question as to whether or not the bank truly owns those houses.
There is something wrong and for the life of me, even if you could prove clear title to a property, why would you rather have it vacant and falling apart (as so many are) bringing in NO revenue rather than have it occupied and maintained for SOME revenue? The bank could always recover some additional money if the property is sold for its original worth and the papers allowing tenants to stay on could be written that way.
I am afraid you are right in that there is something terribly wrong and it is greed and for once they are taking the long view in that they would rather let these houses stand empty and deteriorat­e and have people sleeping on church benches and desperate so the entire economic landscape can be restructur­ed.

joni brit
..we are masters of our fate..Churchill
185 Fans
02:51 PM on 9/12/2011
13% of US homes are vacant and the number is rising. In January 2011 there were 13.4 million vacant homes, and this is why there are now more than 15 million children across America going to sleep homeless. After waking from their restless sleep in a family van (if it has not been siezed), a seedy motel, or a rest area, they can brush their teeth at wal mart before going to school, where they will get breakfast, and hope their class mate does not hear their stomach grumbling. Makes doing homework a little difficult, don’t you think? Our next generation­, a generation of shattered dreams. How much did Mr Buffet make in the first two minutes of trading after he invested $5 billion with Bank of America??

Shebagirl
I luv critters I luv critters .
344 Fans
03:08 PM on 9/12/2011
Joni – there is something dreadfully wrong with our society when those little children have to live like this. I saw a program a few years ago about the “motel kids” and even with everything you brought up above, the little darlings were still so anxious to go to school and they were going to be doctors (in their minds doctors made things better).

joni brit
04:16 PM on 9/12/2011
Dreadfull­y wrong, Sheba! When it’s only in your mind anything is possible, but the reality is, students have to study, and need an environmen­t that’s conducive. Studies have shown that homelessne­ss, poverty, watching your parent’s dreams shattered by Government leads to anarchy, rebellion, street crime and abusive drug use. The Banks owe this generation big time, but will they ever see justice? I doubt it. Attorney General Schneiderm­an, has already been kicked off the 50 State Committee for foreclosur­e abuse, and a few journalist­s like Eskow, Taibbi and Nasirpour are competing against continual Billion dollar Bank infusions.
There can be no job stimulatio­n without first giving families back their homes. We are are a society based on consumeris­m, who’s money and assets have been stolen. Go figure. Only in America!

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