Thursday, October 01, 2009
RIP - Ken Lewis
Even though I have turned a deaf ear to the crazy irrationality that is the stock market these days....
I did hear late yesterday that my boy Ken Lewis has *retired* - effective December 31st of this year.
That characterization couldn't help but remind me the time Randall Cunningham also *retired*....when, in fact, there wasn't a team in the entire NFL that was interested in signing him!
But even in the unlikely event this über-Moron wasn't *forced* out by self-serving, Big Government scapegoaters....
I submit that Ken would be leaving now anyway.
After all, look at his bank's stock - he thinks he's getting out on a *high note* a la George Constanza.
Would you want to be him, after all the sh*t he took last year, heading BAC for the inevitable crash?
I sure wouldn't.
It will be an interesting sideshow, however, to weigh the pile of crap thrown at him on the way out the door. A lot can happen in two months.
When BAC and the rest of the stock market pigs tank again, no one save me and my fellow, bloodied shorts, is going to remember, no less be thankful for, the BS bear market rally of 2009.
No, everyone will be rampaging about with un-lubed pitchforks.
Down 70% from it's all-time high, shares substantially diluted, the dividend *suspended*, enough buried losses for the coming decade.....
Some *high note*!
Ken, I'd seriously consider a remote village in South America. Enlist the services of those who hid Steve Bartman or something.
I've written a bunch on Ken Lewis - click here.
And, as my South Philly jabronis would say, *not for anything*, but I identified Ken Lewis for the immense Moron that he was long before the rest of those clowns like Mike Shedlock and Barry Ritholtz did.
Stay with me kids, I'll keep y'all a few steps ahead of the game....