Bruce Ramsey seems awful upset by a press release from Mike O’Brien that says, “I got sick of all the fees and hassle of the big banks, making life difficult for customers while reaping record profits.” He takes issue on the fact that Bank of America (who O’Brien didn’t name as his bank) didn’t make a profit for a few years, showing their profits and losses from 2006 to 2010:
2006 $21 billion
2007 $15 billion
2008 $2.6 billion
2009 ($2.2 billion) loss
2010 ($3.6 billion) loss
So, how much did B of A to make in the third quarter of 2011, you ask? Oh, $6.2 Billion. Still, I don’t think O’Brien begrudges the banks their profits, I think it’s more the hassle and fees that he cites that are the problem.
Ramsey is also upset about the fact that O’Brien is sharing this in a press release. But it seems to me, it’s information his constituents might want.