The Yes Men Strike Again...

Congratulations! You have your own bank, as in the Yes Men</a> strike again...

BANK OF AMERICA

Congratulations! You have your own bank, as in the Yes Men strike again...

Note: A "phishing" site warning may appear when you click on the link, but you don't need to worry, it isn't. Just click on the "ignore" option and proceed to the site, and if you have a moment to report the phishing tag as being false that would be great.

In a personal letter on the website from the CEO of Your Bank of America, Brian Moynihan (I'm sure we can get someone else to fill that spot soon enough!):

Dear Fellow American,

Welcome to your Bank of America.

Today, it's time to acknowledge that our Bank isn't working anymore—not just for the market, but for people, our real customers. We've paid $8.58 billion in relief to borrowers and $3.24 billion in fines. We face lawsuits and claims from citizens, companies, and state and local governments. There is even a petition with the Federal Reserve to break up our bank, adding yet more uncertainty to our position. Finally, we've found ourselves front-and-center in the national foreclosure crisis, and deep in unpopular investments like coal, at a time when climate change is a growing societal concern.

As a result, our company’s shares have fallen precipitously, and now trade at one-fifth their 2008 price. Our Bank may, in fact, soon need help keeping afloat—and much as in 2008, you, the American taxpayer, will be asked to provide that assistance.

The institutions you rescued in 2008 have continued much as they always were, engaging in the same practices that brought our economy so close to collapse. To make sure that this time around, things turn out differently, we at Bank of America are launching a forum in which you, the American taxpayer, can prepare for the time that you own us. By sharing ideas, and reading and rating the ideas of others, you can begin charting a course for this Bank—your course.

And when the day comes that you, the American taxpayer, own this Bank, you will be ready to make it a Bank for America—one that brings benefits not to the privileged only, but to all of our customers, and to all of our stakeholders too.

Welcome to your Bank of America.

Brian T. Moynihan
Chief Executive Officer
President

Be sure to visit Your Bank of America soon -- while it's still there -- and submit your ideas in the ideas section.

About Diane Sweet

Diane Sweet's picture
Senior Editor, Lives in a gerrymandered district in Michigan.

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