Reggie Middleton

Bank of America's Acquisitions: What Was Ken Lewis Thinking?

Thanks, all who are positive, at least. I understand the try to get too big to fail thesis, but I think what many are missing is that the government - particularly with democratic control on the horizon, but even now - will wipe out the equity holders before they rescue. If they rescue. Ask FNM, freddie man, BSC, LEH, AIG common and preferred share holders.

Again, I query: What was Ken Lewis thinking. The over the weekend due diligence of Merrill is a farce. I have seen the docs, takes a weekend just to wrap your head around 1 CDS agreement's legalities, then to assess the credit, market and economic risks... Which nobody really knows anyway - so he might as well just pulled the trigger over the weekend...