Address it to Bank of America and Goldman Sachs. Its just a short, pretty cogent explanation as to why a significant number of people in America want you to die:
Eleven million dollars? What the hell world are you inhabiting? Eleven million dollars for two departing executives because things didn’t work out? I’m sorry, but were these two executives of Derek Jeter and Alex Rodriguez-level importance for your organization? Is that why there are severance deals like this in place? Or are you just completely psychotic?
It’s not that this isn’t your prerogative as a private company – it is. But seriously, numbers like these at a time when you’re instituting added fees on customer accounts just sound farcical, almost like you’re making these payments to get a reaction out people.
You look completely ridiculous with news like this at a time when thousands of people are massing in every major city in the country to make the case that you don’t deserve to exist. At a time when you’re being investigated for employing robo-signers just to maintain a certain level of foreclosures processed per month. At a time when you’re laying off rank-and-file employees not by the hundreds, not by the thousands – but in the tens of thousands. At a time when retired seniors, desperately seeking income, have been pushed into annuities, life settlements, commodities and junk bonds because of the zero percent interest rate policy that was meant to nurse you and your balance sheet back to health – and this is what you do with the money? With OUR money?
Are you crazy?
So what color Brooks Brothers suit looks good hanging from a lampost anyway?
Nothing to worry about. I’m sure it wasn’t the bank’s money it was paid from the TARP money they got from us. Your tax $ well spent again.
Not in 2011 it wasn’t. BoA repaid its TARP money early , primarily because Ken Lewis hated salary caps.