Ken Lewis Has A New Friend

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Kenny boy might be a bit down these days with the constant heat from lawmakers who have yet to wrap their heads around the Boone's induced logic surrounding his shotgun marriage last fall. With the revolving door in senior management at BAC you'd think it would be hard for Lewis find too many people to rush to his defense- or even have a drink with him. Enter Dick Bove. In a client note yesterday, the furry woodland one made it clear that in the New Golden Era of banking, he stands shoulder to shoulder with Hank Paulson's punching bag.

"The politicians and the press are trying to get Ken Lewis fired for adding value to shareholders' investment," Mr. Bove wrote in an e-mail to his clients Thursday. "In this new world where success should be punished this may be a new low point."

Hopefully KL will celebrate this blooming friendship by sending a clear message to all the naysayers in a language they'll understand- by taking Dicky B up for a ride in the BAC corporate jet and doing a couple victory laps around DC.

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