As Bank of America basks in its $45 billion of bailout, turns out it comes up a little short on using that bounty to actually help people.
Just outside the elevators of their vast third-floor command center, attached to the wall, is a cardboard thermometer that shows them inching toward their goal of signing up 125,000 struggling borrowers for a federal program to modify their mortgages…But with weeks remaining to meet the November deadline set by the Obama administration, Bank of America is trailing well behind the other large banks, according to Treasury Department data.
BOA’s mortgage relief temperature may be tepid, but leave it to BOA to raise it to a boil with a dose of surrealistic irony.
…some Bank of America employees continue to express skepticism about whether all of those seeking assistance really need it. “There’s a difference between hardship and entitlement,” said Jerry Durham, Bank of America’s vice president of home retention.
Unintended Master of the Obvious Award Recipient du Jour,
Self Awareness Not Included.