BofA Has To Pay Fired Whistleblower $930,000

from the but-the-us-gov't-will-still-try-to-put-people-in-jail dept

The US Department of Labor has told Bank of America to reinstate a guy they fired for blowing the whistle on fraud at Countrywide, and pay him $930,000 for his troubles. Apparently, BofA fired the guy soon after taking over Countrywide and discovered that this (unnamed) employee was trying to report on the fact that others, who had reported fraud at Countrywide, had been the victims of corporate retaliation.

Of course, Bank of America has plenty of cash on hand, in part because the US government (the one now ordering it to pay this worker less than a million dollars) has bailed the bank out to the tune of over $20 billion.

And while we’re on the subject of the US government punishing a company for retaliating against whistleblowers, we should probably mention that the very same federal government has been going out of its way lately to try to imprison government whistleblowers. Apparently, it’s okay when the federal government does it, but not when anyone else does it.

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Companies: bank of america

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Comments on “BofA Has To Pay Fired Whistleblower $930,000”

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That Anonymous Coward (profile) says:

I want to be worked up about the injustice in the system.
I want to be worked up about whistleblowers needing protection for the greater good.

But this is just going to be another one of those cases no one cares about. The evil whistleblower will be the cause of all of their problems, and he will be demonized.

All of the spin is always about the whistleblower and how they got the information, never any look at the actual information.

Once upon a time when you had a whistleblower, Pentagon Papers or DeepThroat, they bothered to look into the information and then dug for more. Now they just try to get everyone to feel bad for the poor company this person set up to take the fall.

When you have a whistleblower, and they try to silence them there should be all kinds of investigations launched. I don’t care if its the Whitehouse or BOFA, the fact they are doing more than just denial pretty much should confirm what the whistleblower is saying is true and it is a symptom of much worse things being done secretly.

Anonymous Coward says:

Whistleblowers and Retaliators

Any time there is no adequate whistleblower protection scheme set up and actually working properly, you can be sure there will be criminal activity going on, done by persons at the top of the organization. Any large pot of money will attract criminals, like bears to honey.

Notice how there have been numerous whistleblowers retaliated against. Only one has been compensated. No attention has been paid to the fraud which set off the whistleblowing. No corporate retaliators have been punished. The government has a long way to go, if they want to do a proper job of cleaning up BofA. What are the chances that they will actually get the job done?

The culture of scheming in the US finance industry has gravely damaged the US economy. It will continue to do so.

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