Yeah I read about this late yesterday... very sad news for those employees, but I think BofA's business model has been flawed for quite some time.
I don't know about you, but there are about 30 banks in a 3-4 mile stretch of a busy road near me. It is just insane. A bank on every corner makes no sense to me. This isn't fast food or gasoline.
And their purchase of Countrywide... no words for that...
So, I am sorry to see 40,000 lose their jobs, but it is only the beginning most likely. BofA may be too big to fail, but they aren't too big to make stupid decisions which lead them to insolvency.
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