Bank of America: People Would Be Banging Down The Doors To Work Here If It Weren't For Ken Feinberg And His Freaky Ass Rules

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Mary Thompson reports that Bank of America has taken the opportunity provided by the Comp Cop's crackdown on pay to note that "people want to work at Bank of America." They really do! But now, in light of the new rules, they might seek employment elsewhere. Also, this.

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Here Is A Woman Protesting Bank Of America, Shirts

Earlier today, we were told that Brian Moynihan's speech at the Citi Financial Services was interrupted by several protesters chanting "bust up Bank of America before it busts up America." One did so running down the aisles, one jumped onto the stage and grabbed the mic from Moynihan, and one "jumped on a table in front of the stage and pulled off her top to show the slogan written across her chest," before being escorted out. Some of, as is your wont, requested photos. Here you go.

Bank Of America Makes Policy On Flashing Your Bare Ass At The Office Clear

Do you anticipate that at some point the future, in a moment of anger, you'll get the urge to unbuckle your belt, drop trou, and display your ass in the direction of your superiors? Do you hope to keep your job afterwards? If so, just a forewarning: Bank of America is not the company for you. Send a resumé to Citigroup or KKR or wherever. According to court documents, Jason Selch's friend Chris O'Dea was fired after he refused to accept lower compensation. This ticked Selch off. Selch burst into a conference room where executives from Columbia were meeting to give them a piece of his mind. He wound up giving them a piece of something else as well. First Selch asked if he had a non-compete agreement, which on Wall Street is usually a way of threatening to quit and go to work for a competitor. After the executives said he didn't have a non-compete, Selch mooned them, told one of the New York-based executives never to return to Chicago, and left the meeting. Extraordinarily, Selch wasn't fired. Instead he was issued a formal warning. Selch’s boss testified that while 99 percent of employees would have been immediately fired, Selch was one of the one percent who could be granted a one free mooning reprieve. The executive actually fought for Selch to keep his job. When Columbia CEO Brian Banks found out about this incident, he insisted that Selch be fired. The behavior was too “egregious” to allow Selch to continue at Columbia. No free mooning at Bank of America, Banks decided—even if you are in the one percent. The firing meant that Selch lost a multi-million contingent bonus package that would have vested if he had remained at the company a few months more. Because he was fired, Bank of America got the keep the money. Selch sued, arguing that firing him after issuing warning was a breach of contract...Last Wednesday, a three-judge appeals panel upheld the trial court, describing the mooning as “insubordinate, disruptive, unruly and abusive.” BofA Right to Fire Broker Who Mooned His Boss: Court [NetNet]

Whistleblowing Bank Of America Quite A Bit More Lucrative Than Working For Bank Of America

Just something to keep in mind. A former Countrywide Financial Corp. manager whose fraud suit contributed to the mortgage industry’s $25 billion settlement with federal and state regulators received about $14.5 million for his efforts, his lawyers said. Kyle Lagow, an appraisal manager for Countrywide from 2004 to 2008, claimed that Countrywide inflated the value of homes to support bigger loans, according to a statement today from Seattle-based law firm Hagens Berman. Charlotte, North Carolina- based Bank of America bought Countrywide in 2008 to save it from collapse as defaults on home loans soared. Lagow’s information helped prompt a $1 billion settlement of Federal Housing Administration claims announced by Bank of America in February, according to the law firm. The sum was included in the nationwide settlement reached that month. [Bloomberg]