I Got Covid + Bank of America Forces 2 Old Execs Into Retirement, Will Eventually Replace Them With 2 Old BofA Execs

Thank you so so much for the support the last 12 days.

I was diagnosed with COVID nearly 2 weeks ago, and it has been a hell of a ride. Lost 16lbs, sweating all the time, tiredness... unable to work the way I like to work. It has been a journey.

I talk about it a little bit and I talk about how it will slightly impact some of the things I poop on Big Banks about!

Plus, A story I wanted to talk about for 2 weeks. Bank of America Announced that Tom Montag, the #2 to Brian Moynihan, and heir-apparent to Moynihan and Anne Finucane, one of the most preeminent female bankers in the industry, AnNoUnCeD ThEiR ReTiReMeNt at the end of the year. I firmly believe they are pushed out because they are older, tenured and more expensive, despite BofA making record profits and announcing a $25/hr min. wage for lower end employees. I have been seeing a lot of older execs "Retiring" this year, replaced by younger folks who likely make way less money than they do.

Montag's story in the NYT couldn't have helped. Thank You, Kate Kelly for that piece!

Anne Finucane got a puff piece in the Boston Globe where they talked about how she "helped navigate" Bank of America through the financial crisis of 2008. I talk about how she got praised for just basically surviving like I did when I was there. I discuss that a bit, and I also talk about how she did some great work that was propped up by a massive PR Blitz, while not really helping with problems on a consumer level, and forcing a lot of folks into banking in an unfamiliar way to them.

Great to be back!

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