More on the BofA / Merrill / John Thain Merger Debacle

Jan.27.09 | About: Bank of (BAC)

Here are some additional items related to John Thain's veritable execution:

First, some humor:

click to enlarge
Click to enlarge

Second, a quick John Thain mix tape:

Needless to say B-schools have their newest case study on ill-conceived mergers as this is shaping up to be the worse merger of all time by a rather significant margin, and somewhere Time-Warner (NYSE:TWX), HP (NYSE:HPQ) and Daimler Chrysler (DAI) executives are all thinking: "thank god, maybe people will stop talking about us when they bring up the worst mergers of all time".

The sad part is that the Countrywide buyout could turn out to be another big mistake on the part of Ken Lewis and company, because when all is said and done they may very well have paid billions for money losing CFC's branch offices and not much else, once you factor in the debt, bad loans, etc.

Disclosure: at the time of publishing the author didn't own a position in any of the companies mentioned in this article; the ideas expressed are solely the opinions of the author and shouldn't be viewed as financial or investment advice.