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DealBreaker (Free subscription) | 11/20/2009
Charlie Gasparino reports that the Bank of America board "really, really" wants to finally pick someone to take the job of boozing it up at happy hour and then returning to the office and saying "How 'bout we do Merrill this time? That'll be fun." According to Gasparino, BAC is in a rush to get it done because they're "sick of all the controversy surrounding the selection"...
5Vote!
DealBreaker (Free subscription) | 11/18/2009
We've been saying for a while that John Thain is the ideal candidate to take over Bank of America, as a) he's unemployed and b) he could use his power to equip every men's room with the line of urinal cakes bearing Ken Lewis's mug he's been working on in his spare time. Yesterday at the Reuters Global Finance Summit, JT finally got on board . He didn't specifically name-check the bank no one wants...
4Vote!
Daily Intelligencer - New York Magazine (Free subscription) | 11/04/2009
When the inimitable CNBC reporter Charlie Gasparino announced the title of his new crisis epic, The Sellout: How Three Decades of Wall Street Greed and Government Mismanagement Destroyed the Global Financial System , to his friend Teddy Forstmann, the financier was skeptical. "So what you're saying," Ted said, "is that somewhere along the line, Wall Street as an institution had some...
5Vote!
DealBreaker (Free subscription) | 11/02/2009
Or so alleges country reporter Charlie Gasparino, in his new book ( out tomorrow !), When Mooks Fail . According to CG, given that "both of these broads" had "a great pair of legs and an ass just begging for a pinch," the comparisons were inevitable, but were nevertheless troubling to JT. The upcoming second-quarter earnings--or, to be more precise, losses--were much higher than...
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My left wing (Free subscription) | 10/22/2009
Rupert Murdoch's cabloid Orcs--Hannity, O'Reilly, & Beck, e.g.--are all in a snit because the Obama regime is calling 'em out as the seditious assholes they are. Stung apparently by the criticism, the Orcs of Faux Nooz are accusing Obama of reviving that old Nixonian trick, the "enemies list." ( Intriguing, innit, that when the Cretino-fascists need to revile someone, they compare the...
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Cara Community - Comments (Free subscription) | 10/08/2009
In reply to Cara's Commentary & Community Chat, Wednesday, Oct. 7, 2009 : ken lewis is the fall man - john thain is the one
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DealBreaker (Free subscription) | 10/07/2009
Some of the advances in structured product technology over the past decade have truly tested the limits of comprehension of both man and machine. As soon as one leveraged instrument was created, somebody else was figuring out a way to take leverage on that leverage. But investment banks and hedge funds had some of the most high-powered computers and statistical minds on the case at each step of the...
5Vote!
DealBreaker (Free subscription) | 10/02/2009
The Post makes two bold claims this morning. The first is that John Thain feels vindicated by Ken Lewis's resignation (which we buy, and would probably say is an understatement) but simultaneously "harbors no ill-will toward Lewis" (really? because that doesn't jibe with the account we have of Thain smearing on red lipstick and running his finger over KL's name, which is at the top of his...
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Daily Intelligencer - New York Magazine (Free subscription) | 10/02/2009
Ken Lewis was too tuckered out and, frankly, has way too much paperwork to sort out before he can begin properly celebrating his retirement from Bank of America. But one person who didn't waste any time getting the party started was John Thain, the Merrill Lynch executive Lewis ousted soon after BofA took over the firm last year. Sources told The Post that the former Merrill Lynch boss spent yesterday...
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The Telegraph (Free subscription) | 10/01/2009
When John Thain knocked on the door to Ken Lewis's corporate apartment in the luxurious surroundings of New York's Time Warner building on the evening of September 13 2008 neither man could have predicted the outcome of the conversation that followed.
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TigerHawk (Free subscription) | 10/01/2009
It is rare that an executive painted as a scoundrel in the midst of a financial panic emerges from that scandal vindicated. It happens, but it is rare.Let me posit that John Thain, the former CEO of Merrill Lynch was irresponsibly and idiotically painted as a scoundrel, and if the Board of BofA had any combination of balls and sense, they would hire him to replace the now-ousted Ken Lewis.To
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Daily Intelligencer - New York Magazine (Free subscription) | 10/01/2009
So Ken Lewis finally succumbed to the inevitable and announced his resignation as CEO of Bank of America yesterday . Hot on the heels of a succession scuttlebutt over at rival JPMorgan Chase , the board of Bank of America now has to make a decision fast about Lewis’ successor. Who are they considering? Here's how the horse race breaks down: THE FAVORITES Tom Montag Title: President, Global Markets...
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FelixSalmon.com (Free subscription) | 10/01/2009
Ken Lewis is leaving Bank of America — and about time too. The board now has three months to find a successor; the new chairman, Walter Massey, has no real choice but to move “in a deliberate and expeditious manner” to find a replacement. The timing is intriguing, coming the day after this statement from Jamie Dimon about Bill Winters: “Choosing between two outstanding people...
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DealBreaker (Free subscription) | 09/28/2009
Ken Lewis will likely not be invited to dot the 'i' at Ohio Stadium anytime soon. As the Bank of America lawsuit phenomenon starts to head west , Ohio Attorney General Richard Cordray is getting the Buckeye State involved by suing BAC and MER for billions on behalf of five pension funds. Evidently believing that sworn testimony at the hands of Andrew Cuomo isn't quite the truth telling solution one...
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DealBreaker (Free subscription) | 09/24/2009
$$$ The Most Powerful Women In Banking [AB] $$$ Bank of America shareholder says Ken Lewis should resign [The Deal] $$$ Move to Greenwich [WSJ] $$$ The John Thain office chronicles are still going on [BI] $$$ Hassan Nemazee Pleads Not Guilty in Style [Daily Intel] Sponsored Topics: John Thain - Bank of America - Business - Financial Services - Banks and Institutions
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