Even though I have turned a deaf ear to the crazy irrationality that is the stock market these days....
I did hear late yesterday that my boy Ken Lewis has *retired* - effective December 31st of this year.
That characterization couldn't help but remind me the time Randall Cunningham also *retired*....when, in fact, there wasn't a team in the entire NFL that was interested in signing him!
But even in the unlikely event this über-Moron wasn't *forced* out by self-serving, Big Government scapegoaters....
I submit that Ken would be leaving now anyway.
After all, look at his bank's stock - he thinks he's getting out on a *high note* a la George Constanza.
Would you want to be him, after all the sh*t he took last year, heading BAC for the inevitable crash?
I sure wouldn't.
It will be an interesting sideshow, however, to weigh the pile of crap thrown at him on the way out the door. A lot can happen in two months.
When BAC and the rest of the stock market pigs tank again, no one save me and my fellow, bloodied shorts, is going to remember, no less be thankful for, the BS bear market rally of 2009.
No, everyone will be rampaging about with un-lubed pitchforks.
Down 70% from it's all-time high, shares substantially diluted, the dividend *suspended*, enough buried losses for the coming decade.....
Some *high note*!
Ken, I'd seriously consider a remote village in South America. Enlist the services of those who hid Steve Bartman or something.
I've written a bunch on Ken Lewis - click here.
And, as my South Philly jabronis would say, *not for anything*, but I identified Ken Lewis for the immense Moron that he was long before the rest of those clowns like Mike Shedlock and Barry Ritholtz did.
Stay with me kids, I'll keep y'all a few steps ahead of the game....
6 comments:
C,
And I'll stay one step ahead of you:
the BAC/Merrill thing is turning into major hot water. There is likely a big case coming down the pike and Lewis knows it'll be hard to chief officiate when he's in court 10hrs a day for the next few yrs.
That's MY guess as to why this LOSER is finally stepping down (I also loved his attempt to Costanza his way out while he was 'ahead'... my god the ego on this guy).
I think banking analyst Dick Bove said today something like,
"Bank of America just lost a brilliant leader..."
UNBELIEVABLE.
For a supposed investment professional that went as far in as you did on FAZ and SRS, you have zero business calling anybody else a "clown". Jah?
You still holding those bets?
Anon,
C admitted he acted a fool in da club on those. Ken Lewis patted himself on the back and claimed he's ending things on a high note.
There's a difference, if your small mind can grasp it, capisce?
Taylor,
Sorry, I must have missed the confessional scene. Doesn't matter, neither Mish nor Barry are fools. Quite the contrary, they have both remained mentally flexible and effectively protected the interests of their clients.
Spare me the "small mind" agitprop. I don't promote fantasy worlds which require imaginative leaps of "faith" to envision. CN does this regularly, and although I am not talking about his investment ideas, they are hardly excepted from the concept. If you have an intelligent thought, let's hear it.
Anon,
What do Mish and Barry have to do with this all of a sudden?
You have one hell of a bone to pick it sounds like! I'll keep my unintelligence out of it...
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