Bank of America’s Guerrilla Collection Tactics ++

This discussion covers a lot of important topics about the financial crisis, such as the inability of a corporate controlled congress to regulate anything.

Former Bank of America employee Chris Feener says that little has changed at BoA since the company received billions of dollars in tax-payer money. The company continues to use what Feener calls guerrilla collection tactics and compensates its employees based on the amount of debt they collect. Feener, who hadn't received a raise in several years, says that bonuses of five to $6,000 dollars were often awarded on a monthly basis. Despite promises that in exchange for taxpayer money, banks and financial institutions would be regulated little progress has been made.

Feener, the SEIU’s Stephen Lerner, and Max Fraad Wolff, a professor of economics at the New School University's Graduate Program in International Affairs on BoA's unsavory practices and why so little has changed.