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Bank of America Heiress: the New Rick Santelli

In a rant that could rank right up there with Rick Santelli’s tirade, Virginia Hammerness, the granddaughter of the man who founded Bank of America in the

Jul 31, 2020
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In a rant that could rank right up there with Rick Santelli’s tirade, Virginia Hammerness, the granddaughter of the man who founded Bank of America in the 1900s, let looseon the current bank’s management in an interview with a San Francisco television station.
From the interview, with CBS Channel 5
“I think its totally repulsive,” Hammerness said when asked what she thinks of Bank of America now. ”What idiots, what kind of idiots are running that bank?”
There’s more. Hammerness also talked with pride about the founding of the bank at the turn of the century, and expressed dismay with the way things have turned out:
She reflected on how her grandfather founded B of A as the Bank of Italy in San Francisco’s North Beach neighborhood in 1904 as a reaction to the fact that the big eastern banks wouldn’t lend to middle class immigrants like Italians.
Hammerness was outspoken about what has happened to the bank that is her family’s legacy, saying she had little doubt that Giannini was “rolling over in his grave.”
She added that her father, who succeeded her grandfather as bank president and “gave his life for the bank,” would have had a similar reaction upon seeing today’s decline of the institution.
Let’s see if her rant gets the same attention as Santelli’s did.
Camilo Wood

Camilo Wood

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Camilo Wood has over two decades of experience as a writer and journalist, specializing in finance and economics. With a degree in Economics and a background in financial research and analysis, Camilo brings a wealth of knowledge and expertise to his writing. Throughout his career, Camilo has contributed to numerous publications, covering a wide range of topics such as global economic trends, investment strategies, and market analysis. His articles are recognized for their insightful analysis and clear explanations, making complex financial concepts accessible to readers. Camilo's experience includes working in roles related to financial reporting, analysis, and commentary, allowing him to provide readers with accurate and trustworthy information. His dedication to journalistic integrity and commitment to delivering high-quality content make him a trusted voice in the fields of finance and journalism.
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