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  • The Bank of America Bug  [View article]
    Ken Lewis and BoA are stupid? Wow...are we 12 years old?

    Ken Lewis is the reason that Bank of America stayed clear of the sub-prime crisis. The company could have made billions more (i.e. Bear Sterns, CountryWide) if they'd lent solely based on ARM mortgages with short-sightedness.

    Bank of America is the second largest retail bank on the planet. The only one above them is Citigroup....and they lost $5 billion in first quarter, laying off 7,000 employees. Bank of America made $1.21 billion in profit first quarter.

    Sounds like a smart company to me.
    Jun 29 12:33 pm |Rating: 0 0
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