Ken Lewis, CEO of Bank of America announced he is stepping down before the end of the year, about a year and a half before he had intended to retire. As this article from Fortune speculates, "with the Merrill deal, Bank of America's Ken Lewis finally falls victim to the pressure of lawsuits and regulators." Those golden commodes will send you up the proverbial creek every time!
The market reacted by plunging over 200 points today! And U.S. Bank stock was down 75 cents as well. Percentage wise we fared better than most but the day was still one for the crapper, so to speak . . .