Huh? Not even Bank of America is safe from the grim economic news?

Not even Bank of America is safe from the grim economic news. What on earth is the Daily Beast thinking? Bank of America’s stock has been steadily sinking for the past three years because of all the toxic mortgage debt it took on when it bought Countrywide. Of course Bank of America’s stock is going to sink more than the average during times like these.

Tina Brown’s site is clueless, writes Mickey Kaus.

Daily Beast says: Not even Bank of America is safe from the grim economic news. According to an internal memo obtained by the New York Times, the bank plans to cut at least 3,500 jobs, or just over 1 percent of its work force, in the coming months, and those cuts are only the beginning. At the end of next month, the company plans to announce a larger reorganization that could end up cutting a total of 10,000 jobs, or about 3.5 percent of its work force. Bank of America’s stock is down more than 50 percent since January, and it cut about 2,500 jobs in the first half of the year.

About Luke Ford

Raised a Seventh-Day Adventist at Avondale College in Australia, Luke Ford moved to California in 1977. He graduated from Placer High School in 1984, reported the news at KAHI/KHYL radio for three years, attended Sierra College and UCLA, was largely bedridden by Chronic Fatigue Syndrome for six years, and converted to Judaism in 1993. From 1997-2007, Luke made his living from blogging. Living by Beverly Hills (Alexander90210.com), he now teaches the Alexander Technique (moving the way the body likes to move). Lessons cost $100 each and last about 45 minutes. In 2011, Luke completed a three-year teaching course at the Alexander Training Institute of Los Angeles. His personal Alexander Technique website is Alexander90210.com. Luke is the author of five books, including: » The Producers: Profiles in Frustration » Yesterday’s News Tomorrow: Inside American Jewish Journalism
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