Job314

BofA CEO Lewis the Next to Fall?

I totally understanf the fear of fall if Countrywide does not hold its value and continue to have massive defaults. However, I think that Ken Lewis made cautious puchase terms. The purchase did not happened overnight like other companies's. Lewis waited about six months period (so far) and have BoA people start to engage CFC managements during this period. If there are major issues lurking around, they can abort the purchase. Lewis also played the valuation fairly well. He pay only 1/10 of CFC before the crisis. I still believe he is a great banker.