Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Think4Yourself who wrote (187062)	2/27/2009 3:04:50 PM
From: ajtj99	Respond to of 306849

Actually the way the deal was structured they could have taken CFC bankrupt without hurting BAC. Somehow they didn't find that feasible or the US stepped in and told them not to. I really don't know, but they should have taken CFC bankrupt.

To: Think4Yourself who wrote (187062)	2/27/2009 4:23:06 PM
From: endless	Read Replies (1) \| Respond to of 306849

"That decision by Ken Lewis, along with his failure to renegotiate the deal when he had the chance, ensures his name will be in every finance textbook for the next 30 years. Unfortunately for him it will be an example of inept CEO's." I will take this opportunity to share some of my personal observation and opinion FWIW. As I mentioned before, I was employed in big banking. A number of people I worked with during that time have moved into top executive positions. My best friend at the time married one. I have not stayed in touch. They live in Charlotte, we moved to LA. What struck me as I watched their career is the fact that I could not consider these guys extremely bright or intelligent. - They were not dumm, they were hard working, perhaps driven, they were good sales people and politically savvy. But there was nothing that suggests any extraordinary gift or quality. ..An forget about their contribution to society, that doesn't fit the paycheck either, certainly nothing that would justify these lavish compensation packages. LOL! P.S. I suspect this is probably true in other industries as well.