Tuesday, October 4, 2011

Five days now: Bank of America site overwhelmed and down again/still

I just checked BoA at 9:50am Mountain Time, and was greeted with the same message I received about an hour ago:

This is now about the fifth straight day of BAC's failure to communicate. ZeroHedge has been covering this embarrassment/customer-affront for the past few days. If you look at that link, you'll see that BAC has managed to change the text on the "overwhelmed" page, but still hasn't been able to get its own homepage up.

But, seriously, man---everything is totally fine at Bank of America. Really, seriously, I mean, don't even worry about it....

Yes, indeed. About a month ago, BAC announced 30,000 layoffs; the company has over 200,000 employees. Interestingly and strikingly, this is more layoffs than all but seven other massive US banks (JPM, Wells, etc) have in total employees (Bloomberg). BAC shares are now at under $5.50, which puts them right about where they were . . . in March 2009.

But everything is totally fine, man. Seriously.

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