Ken Lewis

Bank of America: "I Told Ya I Was Good For It"

What a way to make an exit! From DealBook: Bank of America said late Wednesday that it would repay its entire $45 billion in government bailout money before the end of the year…“We appreciate the critical role that the U.S. government played last fall in helping to stabilize financial markets, and we are pleased to…

They Won't Have Ken Lewis To Kick Around Anymore

The big breaking news this evening is the resignation of Bank of America‘s embattled CEO Ken Lewis (damn, I’ve had to type the phrase “embattled CEO” a lot this year) which will take effect on January 1st. There was plenty of speculation that this would happen as investigations into the Merrill acquisition scandal began to…

Ken Lewis: Should I Stay or Should I Go (reprise)

[youtube=http://www.youtube.com/watch?v=bYxkvAwIjzQ] With trouble coming from both the SEC and the NY Attorney General over the Merrill Lynch acquisition, Ken Lewis is faced with a big decision – should he stay or should he go as CEO of Bank of America?  With apologies to the late Joe Strummer, here’s Kenny doing his rendition of The Clash‘s…

Dimon, Lewis and Mack Save the Rec Center

[youtube=http://www.youtube.com/watch?v=pspmBbbOHh8] Watching the big banks’ money-raising efforts come to fruition over the last several weeks, one cannot help but think of the happy endings of several 80’s movies that made a deep impression on me in my formative years. Breakin’ 2: Electric Boogaloo comes to mind.  Never mind that the film was robbed of an…

Hot Links: Charlie, AOL, J Crew, MLB, Schumer & Biden

Hot Links for Weekend Reading Let’s start off with The Daily Beast’s Charlie Gasparino‘s take on the BofA/ Ken Lewis/ John Thain showdown.  Thain went off on his former boss but Charlie stayed neutral: “Watching these guys go at it is kind of like watching old World War II footage of battles between Germans and…

Market Recap: Punks Jump Up…

[youtube=http://www.youtube.com/watch?v=dxBvUqLs_eU] The Reformed Broker, AKA Kool G Wrap, here with today’s Market Recap… The Chrysler bankruptcy had virtually zero impact at the open and the Dow quickly gained a triple digit head of steam.  As the day wore on, however, stocks faded and profits were taken.  Speculative juices vanished and as Brand Nubian said, Punks Jumped…

Ken Lewis: Should I Stay or Should I Go?

[youtube=http://www.youtube.com/watch?v=bYxkvAwIjzQ] With Ken Lewis just voted out as Chairman by Bank of America shareholders, how long will he stick around as CEO? With apologies to the late Joe Strummer, here’s Kenny doing his rendition of The Clash’s “Should I Stay or Should I Go?” ____________________________________________ Voters, you gotta let me know Should I stay or…

Market Recap: All Swine Flu, All The Time!

[vodpod id=ExternalVideo.816076&w=425&h=350&fv=]  The Reformed Broker, AKA Daddy Long Legs, here with today’s Market Recap… It’s Monday, so that can only mean one thing…Yes, that’s right!  A new restructuring plan for General Motors (GM)!  Maybe this, the third since January, will stick.  And BTW, they’re blowing out the Pontiac brand, which is a shame.  The action today was…

Who Else Got Pushed Around by Hank Paulson?

I just sat down and digested the B of A/Merrill Lynch Merger Investigation letter and I felt like I was reading excerpts from a Godfather IV script treatment. Ken Lewis is no innocent, but Hank Paulson comes off like a f@ckin’ psycho in Andrew Cuomo‘s letter to the SEC and TARP oversight committee.  Cuomo basically…