"Bailed Out" Bank of America throws Superbowl Parties....and predicts massive layoffs

[kaiser soze]

How does doing this:

http://abcnews.go.com/Blotter/story?id=6782719&page=1

Despite a near collapse that required $45 billion in federal taxpayer bailout funds, Bank of America sponsored a five day carnival-like affair just outside the Super Bowl stadium this past week as President Obama decried wasteful spending on Wall St.
Brian Ross investigates the bankers who sponsored Super Bowl festivities.

The event – known as the NFL Experience – was 850,000 square feet of sports games and interactive entertainment attractions for football fans and was blanketed in Bank of America logos and marketing calls to sign up for football-themed banking products.

Justify This:


http://www.nytimes.com/2008/12/12/business/12bank.html?_r=1&em

Bank of America said on Thursday that it planned to cut 30,000 to 35,000 positions — among the largest layoffs ever — over the next three years as it digests its acquisition of Merrill Lynch. That could amount to more than 11 percent of the combined firms’ global work force of 308,000.

This is why they needed the fucking money....and they will ask again when shit gets tight and get it. The American Citizen (and consequently Citizens across the world) are going to have the most amazing holes in their asses...

[b i o n i c]

companies spend money on marketing to make more money, no?

[HAL 9000]

In my experience banks are pretty good at knowing the capital strain and new business implications of their marketing spend. This is marketing, I dont see anything wrong with it.

Bonuses are another issue, regulators need to get on top of that.

[Pres Zount]

That's quite a lot of money to bail someone out with. 45 billion. Wow. Is the Bank of America nationalised?

[kaiser soze]

It may be marketing but it definitely doesn't suggest frugality in a time of hard financial times.

If any of the bail out money was used for this rather than it's intended purposes than this is exploitation of tax payer money.

These companies should spend THEIR money on marketing, the bail out is not their money.

[King PSYZ]

while I am pretty pissed at the current state of the bailout, something for superbowl would have been budgeted and approved probablly a year back or longer... Just my 2 cents.

[kaiser soze]

True, anyways I am not convinced this bail out will do shit anyways there will be another one in a year or so.

They will open their pockets wide and the people will open their assholes wider

When Rome burned....

[yeahwho]

The so-called "Bail Out" should cease being called "Bail Out" and be re-named in it's proper context, "Reverse Robinhood" steal from the poor then give to the rich.

[Bob]

obama is trying to cap executive salaries (http://www.reuters.com/article/governmentFilingsNews/idUSWBT01057020090204)

i like the idea of banks begging for taxpayer money and then giving it directly to the CEOs in the form of millions of dollars of bonuses (which a person who drove the company to a point where it needed to beg for taxpayer money totally deserves and who am i to say otherwise). that's about as blatant a "fuck you" as i can possibly think of, and i'm glad they're doing it so that we know for sure what they think of us

[kaiser soze]

I enjoy the fact that some companies are sending money to other countries!

Now that's stimulating our economy!

These people failed and are being rewarded......I think it is time they should be fired.