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Bank Of America Pondering Life Without Kenny

With the addition of Edolphus Towns, there are now enough people waiting in line to take a crack at Ken Lewis about the Merrill merger that BAC's directors are, reportedly, pulling out the binder with the contingency plan should Kenny be charged with civil fraud. They'll have to decide how much and for how long they're willing to resist the temptation to throw KL out the revolving doors that have found a permanent home in the Bank of America hierarchy. If things get dire, they may even have to consider who to turn to if Lewis goes. They'll need somebody with a good sense of the organization. Somebody who knows how to handle the ongoing culture wars between BAC and Merrill Lynch. Somebody with a proven ability to get the absolute maximum for shareholders during a time of crisis. John Thain, you know anybody who sounds like that?
Report: BofA board considering options if CEO is charged with fraud [Jacksonville Business Journal]



Deutsche Bank Ponders The Cosmic Paradox Of Trumpian Monetary Policy

The next Fed governors will have to deviate from Yellen by doing exactly as she has done.