Someone Might Actually Want To Work For Bank Of America Now?

Author:
Publish date:

So! Now that the government doesn't have its foot up Bank of America's ass, is there anyone out there who'd like to run the place? Literally no one wanted the CEO job up until yesterday, but with the TARP repayment, some people are thinking this is now a dream gig any girl would kill for, and that the board really won't even have to go looking anymore-- just sit back with their arms behind their head and wait for the candidates to come to them (everyone wants a piece of their government-less shit). Has John Thain's window of opportunity passed now that BAC no longer needs to go slumming? And who are some dream candidates* they'll now have the possibility of bedding?
*Who hopefully won't have a problem with Dick Bové sending notes about how they'll never live up to Ken Lewis with the words written in letters cut out of magazine clippings and blood)?

Related

News

Bank Of America Investors Still Don't Feel Properly Compensated For Having Merrill Lynch Rammed Down Their Throats

Remember in 2008, when Ken Lewis was all, "Oooh, wait, I don't know about this Merrill Lynch thing" and tried to back out of buying the bank? And Hank Paulson threatened to stuff him in a meat locker if he did so Ken Lewis said okay, fine, I'll do it? BAC investors are still upset about that. Bank of America directors’ $20 million settlement of investor lawsuits alleging the bank overpaid when it bought Merrill Lynch & Co. amounts to just 4 percent of the board’s $500 million in insurance coverage and is inadequate, lawyers objecting to the accord said. Attorneys for Bank of America shareholders suing in Delaware over the $50 billion acquisition of Merrill Lynch have asked a judge in that state to keep their claims alive even though a federal judge in New York is considering a $20 million settlement of almost identical suits brought by other bank investors. If that accord is approved, it could wipe out the Delaware claims. “The proposed settlement is grossly inadequate and represents only 0.4 percent of the value of the $5 billion derivative claims that the Delaware Derivative Plaintiffs have been vigorously pursuing,” lawyers for the Delaware investors said in a Delaware Chancery Court filing late yesterday. The settlement also amounts to “only 4 percent” of available insurance, they said. Disgruntled shareholders contend the board and former Chief Executive Officer Kenneth D. Lewis misled them about the brokerage firm’s losses leading up to the buyout and should have pulled the plug on the deal. Lewis, who left Bank of America in 2009, is now chairman of Chicago-based LaSalle Bank NA. [Bloomberg]