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Bank of America Employees Are Depressed About Working For Bank Of America

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Hopefully the extra money will help. If not they're going to have to go with Plan B: bring in Lenny Dykstra and allot each employee 5 minutes to tickle torture Nails while Twizzlers hang out of his mouth. That's always tends make people feel better.

The bank's employee "morale is exceptionally low and they've been beaten up every day for the past two years, so you can't get any worse, so any uptick is a success story," Jason Kennedy, chief executive officer of Kennedy Associates, a London-based recruiting firm, said today in a Bloomberg Television interview.


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]

Bonus Watch '13: Bank Of America

A few details from the House of Moynihan's IBD bonus communication day, which was said to leave people feeling "glum."