BofA Takes More of Our Money To Stay In Business
It appears as though BofA is taking another 20 billion dollars of taxpayer money to stay afloat. I can’t understand why Ken Lewis is still the CEO. I could probably run a bank into the ground just as well and I’d only charge a couple million dollars. If anyone at BofA is reading, I’m available. What I find strange about the whole thing is the reason cited for the additional capital infusion. According to an official it’s to help “digest” the Merril Lynch acquisition. UUUHHMMM…Now I’m no MBA but I did take business 101 and if I remember correctly there was a section in the book where they talked about acquisitions and how you’re not supposed to acquire companies that bankrupt you. I guess Mr. Lewis must have been out that day. On top of that, what’s with this guy over paying for stuff. I mean, 40 billion for an insolvent company? cmon!! He could have waited a few weeks and picked it up for next to nothing Jamie Dimon style.
Tags: Bank of america bailout
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