B of A Employees Jumping Ship / Freddie Sinking Ship

Bank of America has said they plan to cut 30,000 jobs as competitors see an influx of resumes and phone calls out of B of A. There is much more here (B of A says they have 288k employees).

It looks to me B of A is headed to the chopping block; probably to result in a good bank/bad bank with wall street favorites picking up the good pieces and the tax payers picking up the rest.

In the meantime, the other bad bank, is looking for another $6 billion from the taxpayer as they report a stunning $4.4 billion quarterly loss. That brings their tab to about $50 billion--which doesn't include big sister Fannie.

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