Subprime Getting Close To Home...

CHARLOTTE, N.C. (AP) Bank of America Corp. says it will eliminate 3,000
jobs, less than a week after reporting a huge drop in earnings for the
third quarter.

Wow, if THIS behemoth is feelin' it, what does THAT tell you?

Uh oh...

I told you lowering the rates at the Fed wouldn't help the problem. Nya!

fuft wrote: I told you lowering the rates at the Fed wouldn't help the problem. Nya!

Omg, I said it was a Band-Aid. Better than nothing... Where is the punch-in-the-face-emoticon?

Too little too late. Did I hear correctly that this was a backlash from all the sub-prime loans that were under review and not granted? Or was that something completely different?

I'm nearly positive that this is resultant of loan defaults and drop-off in business already going on, Jefe. Don't kill me if I'm wrong, but I'm quite sure.