Well, they need to save money in order to make campaign contributions, aka bribes and payoffs, to politicians like Rick Perry.
http://www.msnbc.msn.com/id/44199241/ns/business-us_business/#.TlBUA12KJhk
updated 8/19/2011 11:23:37 AM ET
Bank of America will cut 3,500 jobs by the end of September and eventually could cut 10,000 as the nation's biggest bank aims to transform itself and deal with the overhang from the housing market meltdown.
The bank confirmed plans for a near-term reduction in force in a memo to senior managers although officials were not available to comment on a report in The Wall Street Journal that said more layoffs are likely.
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