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Tuesday, February 24, 2009
Boomer with Attitude / News 'What kind of idiots are running that bank?'
Posted By John Grooms on Tue, Feb 24, 2009 at 9:53 AM
As the nation reels from one bad bit of economic news to another, the city has been shaken by the collapse of Wachovia and the near-implosion of Bank of America. BofA honcho Ken Lewis is in hot water for rushing into a purchase of Merrill Lynch, which turned out to be the straw — or maybe 50 billion bales of straw — that broke the camel's back. For a fresh outlook on the BofA crisis, check out this story from a San Francisco CBS TV affiliate, which interviewed the granddaughter of the man who founded Bank of America in that city in the early 1900s. Short version: Current management is "totally repulsive," she says, and asks the trenchant question, "What kind of idiots are running that bank ? "
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