A Round of Applause for Ken Lewis!

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rlee's picture
rlee
Status: Silver Member (Offline)
Joined: Sep 18 2008
Posts: 148
A Round of Applause for Ken Lewis!

This is an excerpt from Agora Financials 5-minute forecast today:

 

 

Bank of America CEO Ken Lewis won the “Banker of the Year” award last week. (There’s a coveted honor this year.) American Banker gave its annual award to the Mississippian CEO for the second time in seven years.

If you’re looking to get the title in 2009, you’ll only need to beat this record: cut at least 10,000 jobs, slash profits by 68%, consider writing down $27 billion in bad loans, raise $30 billion in emergency capital, overpay for the world’s biggest and most controversial mortgage originator during the worst housing bust since the Great Depression and pick up an overleveraged balance sheet of a broker like Merrill Lynch.

After all those acquisitions, by the way, 50% of the population -- one in every two people you meet on the street -- is in business with Bank of America.

 

Let's all stand up and give Ken a big pat on the back for his efforts this year!  BTW,  BOA tops the list as the bank who spent the largest portion of their 'bailout' money on dividend payments: $6.4 billion!

Is this a great country or what?

Bob 

 

krogoth's picture
krogoth
Status: Platinum Member (Offline)
Joined: Aug 18 2008
Posts: 576
Re: A Round of Applause for Ken Lewis!

Ken Lewis is a douchebag, and the only bigger douchebag is Jamie Dimon.

 

 

 

 

rlee's picture
rlee
Status: Silver Member (Offline)
Joined: Sep 18 2008
Posts: 148
Re: A Round of Applause for Ken Lewis!
That said, Jamie should be the next in line for one of these bogus awards!

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