User 275554

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

What was Ken thinking? He was following the same line of thinking as the heads of AIG, Lehman, Wachovia etc. Ego, compensation and corporate legacy have blinded all these guys to the downside risk of their actions and now the chickens are coming home to roost in the current crisis.

I fear the value of Bank of America stock is going to ZERO! Just wait and see. They will either fail, merge for a couple of dollars a share or become a government owned and majority controlled financial institution with the work ethic and competency of the US Post Office. A sad state of affairs for such a great bank.

I am a stockholder and spent 25 years in the investment business and retired as president of a small US brokerage firm.