The latest Bloomberg Businessweek features a review of the new book Crash of the Titans, which delves into the back story of Bank of America?s takeover of Merrill Lynch:
As a Scotch-drinking Mississippian, BofA’s [Ken] Lewis had reservations about the white-wine-swilling executives on Wall Street. Yet Lewis lusted for Merrill and the Street cred the firm provided. After Lewis bagged his prey, he “paraded Thain around as if he were a trophy.” In Farrell’s words, Thain was “an exotic creature captured on safari who would now be on display at the bank’s headquarters.” Of course, this was before Lewis actually looked closely at Merrill’s books in early 2009. By then, his directors had had enough of his showmanship. They gave him the boot and a $125 million retirement package.
Of course, Carolina Journal Radio listeners had a chance this weekend to learn about another recent book that chronicles the impact of the financial crisis on Charlotte. Click play below for a snippet of a conversation with Charlotte Observer banking reporter Rick Rothacker about his book Banktown.
