Charting Stocks

Bank of America has announced its plans to cut 30,000 to 35,000 jobs over the next 3 years. The reductions reflect it’s upcoming acquisition of Merrill Lynch  and the “weak” economy.

Should Bank of America be allowed to layoff 35,000 workers?
I know the question would anger some free market economists but let’s remember that Bank of America has received tens of billions of dollars in public money. There has been nothing free about this market. The bank claimed they were in dire need of a federal bailout, yet they were able to scrap together the money to buy Merrill Lynch?? I Assume that the majority of these 35,000 employees are US taxpayers. Their tax money helped to keep the bank afloat and now they’re going to be fired. I think, at the very least, laid off employees of bailed out corporations should not have to pay any income tax.

These people are essentially going to be forced to pay for there own poverty.

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