http://www.cnn.com/2008/US/12/08/chicago.labor.protest/index.html
As the linked article states, Gov. Rod Blagojevich of Illinois is trying to force Bank of America to loan a bankrupt company money. He has held a proverbial gun to BofA's head by saying they will not get anymore state of Illinois business. This is ridiculous. It was irresponsible lending that got the banks into this mess. Just because the government has given banks loans does not mean banks should give bankrupt companies loans. If banks do that, the Federal Government (by way of the taxpayer) will be lending them more and more money.
I understand that the layoffs were not handled correctly, but that is the company's fault not Bank of America's. The government should be going after management, not BofA. This is ridiculous.
Monday, December 8, 2008
Subscribe to:
Post Comments (Atom)
1 comment:
Looks like the Governor was trying to force a little more than just BofA... A seat in the Senate as well.
Post a Comment