Meredith Whitney Calls BofA's Deal with Merrill a 'Mistake', But Still Likes Ken Lewis
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Famed banking analyst Meredith Whitney told reporters last night that Bank of America's (NYSE: BAC) purchase of Merrill Lynch was Ken Lewis's "one major mistake acquisition", according to a Bloomberg report. Despite the bad decision, Whitney believes that BofA should retain the long-time CEO as he "has done a great job", save the Merrill deal.
In an interview with CNBC's Maria Bartiromo yesterday, Whitney, who has been decidedly bearish on the banks since last year, said she might consider easing up on shorts in the sector. She also suggested that tangible book values in the financial sector could start moving higher soon. While the analyst still seems pretty bearish on the sector, a "less-bearish" stance -- coming from her -- seems promising.
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Comments
MEREDITH WHITNEY SMARTENS UP
KEN LEWIS IS THE BEST BANK CEO IN THE WORLD AND MEREDITH KNOWS IT. PUT YOUR MONEY ON KEN AND BAC AND IT WILL COME HOME TO ROOST.IN BIG BILLS.
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Ken, baby
the Punisher on Apr 10, 2009 01:02 PMKen Lewis is the best? Gimme some of that s#%t you've been smoking. Your IQ is lower than whales@$t.