Thursday, October 16, 2008
More Park-side Gossip
Another snippet from my afternoon conversation today.
StateStreetEmployee - I personally know the guy who's in charge of the Bank of America/Countrywide integration..... He's based in Charlotte. He said it's a complete disaster. He said they keep uncovering one problem after another.
CaptiousNut - Yeah, well everyone knew that but Ken Lewis. He's an idiot.
StateStreetEmployee - He's a complete idiot.
Now I have written a lot on Ken Lewis - read it all here.
My favorite post was still the first one Bank Of America's Ken Lewis - Socialist Hero, Shareholder Villain.
And just you watch, this Merrill Lynch merger may prove more disastrous than Countrywide. Today, Merrill announced that it lost $5.2 billion in the third quarter.
A. P. Giannini is no doubt trying to strangle Ken from the grave!
When it's all said and done, Lewis will be pilloried - just you watch.