BofA (BAC) says its executive shakeup is part of a "de-layering” process, a “wonderfully...

|About: Bank of America Corporation (BAC)|By:, SA News Editor

BofA (BAC) says its executive shakeup is part of a "de-layering” process, a “wonderfully ridiculous” euphemism for what Brian Moynihan really did - fire two of his direct reports and main rivals, Heidi Moore writes. But it will come back to bite him: "Moynihan has now made it really hard for himself to improve his performance. With this 'de-layering,' he’s officially in rear-covering mode."