Bank Of America did well in the tax bill. But it isn't passing on that money

BOA Scores Big, Screws Many

Vintage Bankers Celebrating

by Scorch

From the oh-god-damn-f**king-crap file...

The Bank of America, the famed and too big to fail super-bank, scored really big in the current GOP tax bill. It will save at least three billion dollars. That’s three billion dollars. As in Three. Billion. Dollars.

So, in perfectly logical trickle down economic theory, all that money is going to get transferred to employees and customers, right? Right? According to Bess Levin, writing in Vanity Fair, not even close. About 5 percent of the cash may move to employees. But, at the same time, BOA is eliminating free checking for low income customers. So, that 5% will be more than made up for by screwing customers who can afford checking fees the least.

Great. Just freaking great.

Must go re-read Ayn Rand. I must have missed something in the footnotes.