“Bank of America. We will help you out.”
This statement came from James Mahoney, Director of Public Policy for Bank Of America. And who did Mahoney promise to help?
It wasn’t the 3,500 workers who Bank of America announced it would fire from their jobs over the next month. Bank of America won’t put new people in those jobs. It’s just eliminating those jobs. With one stroke of the pen, Bank of America is destroying three and half thousand jobs.
James Mahoney isn’t interested in helping working Americans. He’s interested in helping Republican politician Rick Perry, the Governor of Texas who is running for President on a platform of eliminating regulations that prevent the American banking industry from taking advantage of their account holders. It was to Rick Perry that James Mahoney said, “We will help you out.”
Bank of America can do a great deal to help Rick Perry get elected President. It has a political action committee that can give money directly to Rick Perry’s presidential campaign, and it can strongly suggest to its executives that they ought to make donations to Rick Perry. James Mahoney can organize fundraising parties at which donations from many individuals are bundled together with the understanding that it’s Bank of America who facilitated these contributions.
Beyond these traditional methods of help, however, Bank of America can funnel an unlimited, and untraceable, amount of money to support television commercials, email campaigns, telephone calls, opinion polling, and all sorts of other political activities, in favor of Rick Perry and in opposition to Rick Perry’s opponents. Bank of America can do so through a program of independent expenditures, enabled by the Citizens United Supreme Court decision.
The offer of Bank America assistance by James Maloney comes at almost exactly 40 minutes into the following video:
Bank of America has responded by saying that James Mahoney was only intending to offer public policy advice to Rick Perry. Bank of America spokesman Lawrence Di Rita says, “The reference was about following up on the substance of the speech about job creation and economic growth.”
Are we really supposed to believe that Bank of America wants to give Rick Perry nothing more than advice about job creation? Bank of America itself isn’t creating jobs. It’s destroying jobs by the thousands. What possible advice on job creation could Bank of America give to Rick Perry?
Rick Perry doesn’t need anyone’s help. It’s working Americans who need help – because corporations like Bank of Americans keep on eliminating large numbers of jobs.