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Topic: bailout

Bank Of America’s Version of “Economic Recovery”

 
Bob Corker

Bob Corker

Many of us who have been paying attention to the economic crisis were somewhat amused when Senator Bob Corker proceeded to take the Big Three automakers to task as they appealed to Congress for a bailout late last year. Where was Bob Corker (or any Republican senators, for that matter) when the financial and banking industry came to Washington with its hand out? Was Corker as tough on them as he was on GM?

This is a rhetorical question, of course. Nobody with a passing familiarity with Bob Corker’s career in public office would ever accuse him of trying to tell business what to do (except, of course when it comes to companies who have unions).

Still, perhaps Senator Corker can teach us all a lesson in corporate responsibility. Let’s examine how another one of America’s corporate titans stands up to scrutiny after it extended its hand to receive a welfare check from Uncle Sam. Let’s take a look at Bank of America.

bank-of-america

Bank of America Logo. (Used without permission)

Despite taking $25 billion in taxpayer dollars, Bank of America has not used their bailout funds to increase lending and revitalize the U.S. economy. «Read the rest of this article»

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