Look what BOA paid the new Exec. of Countrywide....

[dixiegrrrrl]

No, not a bonus..

Huge huge housing costs...

Barbara Desoer had just been named head of Bank of America Corp.’s real-estate unit, Countrywide Financial Corp., in Calabasas, California, Aug. 1, 2008.
BOA bought her NC house for something north of 1.5 mil.
Then BOA put the house back on the market for around 1.2 mil.
"Bank of America will cover costs associated with the sale of their ( Dosoer's ) house, including a possible loss, plus $1.5 million for costs connected to their new home in California and $1.1 million for tax-related costs"

We are looking at 3.7 million bucks in housing costs to hire and move the new Countrywide head.

And BOA is not the only Big TARP Bank to do this:
( story dated Mar. 20th)
http://www.bloomberg.com/apps/news?pid=20601109&sid=a6WwnMO8EfAQ&refer=patrick.net

[AndyA]

1. I guess this is why Bank of America can only afford to pay 0.20% in interest rates

to its customers with savings accounts.

Typical of today's large corporations: cut corners where it could make a difference and improve your business, and waste huge sums of money on people who aren't worth it!

NO ONE is worth this kind of money. What can the woman possibly do that hundreds of others can't?

[terisan]

2. There will be many ways to get around bonuses & salary caps. nt