Bank Of America Sings "One" - A Retrospect
In 2006 credit lending was riding high and the folks at Bank Of America (NYSE:BAC) were so full of themselves that they re-wrote a classic U2 song, One to sing the praises of their $35 billion acquisition of MBNA, a rival credit card company founded by Al Lerner.
If the song itself wasn't enough to mortify any self respecting human back then, it certainly should be enough to infuriate the government that had to 'bail out' their company, all of their former employees that lost their jobs and all of their credit consumers that have had their interest rates jacked up to 27% or had their credit lines cut or canceled as a result of the current 'financial crisis' that the 'bail out' was supposed to address.
The 'performers,' who also worked in the marketing department, were so "impressed" by Bank Of America's 'plan' and their 'cards', they just had to sing about it.
Sadly, this little 'ditty' has nothing in common with the original U2 song - except for -perhaps- the melody.
Bank of America (NYSE:BAC) 's version of One
I would have to say there's nothing quite sadder than a couple of bald, overweight, middle-aged and probably unemployed corporate tools singing the praises of a crap lending company... and honestly believing the hype.
Since this video was recorded in 2006 a lot has changed at Bank Of America.
The company has acquired a number of competing companies and has announced plans to lay off some 35,000 employees across all of their divisions, which seems out of touch with the "One" theme of yesteryear.
I'd be more excited by a tune called "Cuttin' Up My Cards" set to Talking Heads' Burning Down The House at the next staff meeting... and if it happens, I hope someone will post it up on Youtube.
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