patrick.net

Patrick, when juxtaposed against the foreclosure backup I've seen referenced on this site, you'd almost think BoA was trying to slow the down the process...

Bank of America to eliminate 3,000 mortgage jobs

What do you call 3,000 bankers losing their jobs?

A good start.

APOCALYPSEFUCK is Comptroller says

Food.

Post of the week!

Dan8267 says

What do you call 3,000 bankers losing their jobs?

I wish I could believe all 3000 were bankers. Probably more like the mortgage application processors I've seen interviewed and who don't seem to have much of an awareness for their role in the bigger sense.

Those are not bankers losing their jobs.

They are merely disposable pawns who have served their lifetime usefulness and need to now join the rest of the worthless slaves.

These minions thought they were one of us elite banksters and thumped their noses at you serfs...

But now the truth is coming out to them that they are just slaves as well.

I bet a big percentage of these morons have some type of debt like a car loan, car lease, home mortgage and other consumer-trappings so don't look like they are servants and now they have no income most likely.

They are not servants now... They are slaves now to us big banks.

Banks pulled investments out of Housing Recovery Funds a while ago. This is sort of an expected thing.

They made a lot of money in the process. Lenders make a killing from whoever backs these loans.

I have to wonder what kind of severance plan BOA has. When I got it from Wells Fargo, I got several months pay. It's was quite a deal. In fact, it was so good I have to wonder when they are going to discontinue it due to the expense.

zzyzzx says

I have to wonder what kind of severance plan BOA has.

A little bird told me it was 2 weeks for every year you worked for BOA in 2010. Assume it is similar now.

control point says

A little bird told me it was 2 weeks for every year you worked for BOA in 2010. Assume it is similar now.

That's better than you get at most places today.

control point says

A little bird told me it was 2 weeks for every year you worked for BOA in 2010. Assume it is similar now

That's what I got at the end of 1997 after 30 years with the gas company when they merged with DP&L and formed TXU (I often thought it should have been called FU). It amounted to over a year's pay, so to keep it from being added onto my '97 income, they jiggered things to give it to me in January '98, plus we still got our pensions.

zzyzzx says

control point says

A little bird told me it was 2 weeks for every year you worked for BOA in 2010. Assume it is similar now.

That's better than you get at most places today.

I think most corporations offer no severance packages for most employees these days. Once outsourcing of industries began, severance and benefits became too expensive to keep competitive.