Not sure it should, but this action may well send Ken Lewis packing. It is just a continuation of the blowback resulting from two solid years of iffy BofA deals based solely on “trust me” financials from the players.
This is also a continuation of the SEC re-asserting itself over Federal Reserve meddling and king-making in the financial services sector. Next up, the FDIC telling Larry Summers’ to take a long walk off a short pier.
