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How Can The Bank Of America WikiLeaks Top This?

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As you may have heard, Julian Assange has hinted that his next big 'Leak will center around Bank of America and could "take down" the company. BAC has taken the threat seriously, though some have wondered what dirt Assange could possibly reveal that could embarrass the place more than it's already embarrassed itself. Today our question- hope, etc-- is how it could possibly equal or rival this:

According to a recently released cable obtained by WikiLeaks, Iranian President Mahmoud Ahmadinejad was slapped in the face by Revolutionary Guard Chief of Staff Mohammed Ali Jafari...According the source, Ahmedinejad's statements [on the opposition protests] infuriated Revolutionary Guard Chief of Staff Mohammed Ali Jafari, who exclaimed "You are wrong! (In fact) it is YOU who created this mess! And now you say give more freedom to the press?!" Source said that Jafarli then slapped Ahmedinejad in the face, causing an uproar and an immediate call for a break in the meeting, which was never resumed.

Are we talking one good backhand to Ken Lewis's face (who for comedic purposes, will have to be involved)?

Ahmadinejad Slapped By Revolutionary Guard Chief Of Staff: WikiLeaks Cable [HP via Daily Intel]

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Layoffs Watch '12: Bank Of America

In April 2010, Bank of America said ENOUGH. Enough with this losing of money business. We want to know what it's like to have a quarter in which we actually make a little-- wouldn't that be something? As this was a very lofty goal for the firm, the higher-ups knew they had to get serious-- really focus and hone in an on plan of action. First, they gave their new (money-making) mission a special codename: Project New BAC. Then, 44 executives "fanned out around the company to ask employees low- and high-level for ideas on how BofA [could]...reduce expenses." As we now know, what they came up with re: the reduction of expenses was that 30,000 people should be fired and over the last year, exactly that has happened. And even though a whole bunch of senior people have quit, which has helped the bottom line a bit, it hasn't been enough for meddlesome investors to put a sock in it re: "reining in expenses" and "profit outlook" in general. So, a couple things are going to happen: 1. A whole bunch of well-paid* bankers are going to be escorted out of the building and 2. In order to pick up the slack left, clusters of junior bankers are going to put in a van which will drop them off in whatever division needs them most at the time. The Charlotte, N.C., company is planning about 2,000 staff cuts in its investment banking, commercial banking and non-U.S. wealth-management units, said people familiar with the situation. Those operations were vastly expanded with Bank of America's 2009 purchase of Merrill Lynch & Co. The reductions are significant because of whom they target: the high-earning employees whose efforts helped Merrill Lynch account for the bulk of Bank of America's profit since the financial crisis. The cuts come on top of a plan announced last year that will see Bank of America eliminate 30,000 jobs over three years in its consumer banking divisions...The No. 2 U.S. bank by assets already is facing a wave of high-profile defections in its institutional businesses, such as investment banking, amid Wall Street's annual post-bonus job-hopping season. The upheaval comes as investors are pressuring banks to rein in expenses without giving ground competitively. Despite a 46% rise this year, Bank of America shares have lost a third of their value in the past year, amid questions about the industry's profit outlook. Cutbacks aren't Bank of America's only response to surging costs. The bank is loath to cut too deeply in businesses, such as the fixed-income trading operation, that are showing improvement and highly competitive. One structural shift being planned will pool junior investment-banking employees across different industry sectors so the younger bankers can be routed to whatever area is most in demand at that moment, said people familiar with the situation. Proponents say that move will help younger workers gain more experience, while others say it will detract from the bank's service to clients. BofA To Cut From Elite Ranks [WSJ] *For BofA.

Layoffs Watch '12: Bank Of America

On the one hand, Brian Moynihan et al plan to cut staff next month, which hurts. On the other, they've been firing off warning signals that employees may want to explore their options elsewhere, so that's nice. "Ahead of expected cuts at the House of Moynihan in the Apr-May timeframe, a lot of juniors are being pulled into conference rooms and told it might be in their interest to "reach out and have a chat" with other groups. Reshuffling and reallocation are well underway. No rhyme or reason as far as we can tell regarding why some analysts and associates are being nudged and others aren't (some top bucketed guys got nudged, and some bottom feeders got nudged as well)."