Cancel 2016.2
The Almighty
http://www.bloomberg.com/apps/news?pid=20601087&sid=aSuO_N_umK70&refer=home
"March 27 (Bloomberg) -- Bank of America Corp. Chief Executive Officer Kenneth Lewis said today the U.S. should consider separating commercial lenders from investment banking activities.
Lewis made the comment on his way to a meeting with President Barack Obama and U.S. banking chiefs. Asked what he would tell Obama if given the chance, Lewis said it would be that “commercial banks are the fabric of any community in which they operate and we probably need to separate the commercial banks from the investment banking activities.”
The remarks may reopen the debate on whether the U.S. should reinstitute laws put in place after the Great Depression designed to insulate lenders from the risks of investment banking. Bank of America, the biggest U.S. bank by assets, bought Merrill Lynch & Co. in January, helping the largest U.S. brokerage avoid the financial collapse that drove Bear Stearns Cos. out of business.
Scott Silvestri, a spokesman for Charlotte, North Carolina- based Bank of America, couldn’t immediately be reached for comment. "
and the Captain Obvious award goes to..... Ken Lewis!!!
"March 27 (Bloomberg) -- Bank of America Corp. Chief Executive Officer Kenneth Lewis said today the U.S. should consider separating commercial lenders from investment banking activities.
Lewis made the comment on his way to a meeting with President Barack Obama and U.S. banking chiefs. Asked what he would tell Obama if given the chance, Lewis said it would be that “commercial banks are the fabric of any community in which they operate and we probably need to separate the commercial banks from the investment banking activities.”
The remarks may reopen the debate on whether the U.S. should reinstitute laws put in place after the Great Depression designed to insulate lenders from the risks of investment banking. Bank of America, the biggest U.S. bank by assets, bought Merrill Lynch & Co. in January, helping the largest U.S. brokerage avoid the financial collapse that drove Bear Stearns Cos. out of business.
Scott Silvestri, a spokesman for Charlotte, North Carolina- based Bank of America, couldn’t immediately be reached for comment. "
and the Captain Obvious award goes to..... Ken Lewis!!!
