Bank of America Woes
Bank of America has long been under scrutiny for malpractice type occurances, especially over the course of this economic depression. The latest allegation is that the company told employees to churn out loans, accepted fraudulent and unethical paperwork and tried to hide ballooning defaults. The result, a $1 billion federal lawsuit that has crippled the companies stock prices. Bank of America yet again proved that somewhere within the corporate structure there is a an ethical branch that is determined to undermine the integrity of the corporation. The head officials are not the only ones to blame, the worker bees who follow these fraudulent orders are just as guilty. Bank of America is in need of some serious restructuring before it can turn the corner on the dark issues that have come to light in this most recent economic depression.
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