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I always enjoy reading Tom Brown. He’s one of the sharpest banking analysts around. Here’s a sample of his feelings about the Bank of America/MBNA deal.

In my opinion, Ken Lewis has morphed into a terrible CEO, and has turned Bank of America into a huge, mediocre financial services conglomerate. My small contribution to the betterment of corporate governance over the next few years will be to work ceaselessly to see to it that Ken Lewis is ousted from his job (without a big severance package) and to see that significant turnover of the board occurs, as well. The best thing that can happen for BofA shareholders, in my view, is that the company be broken up. That is the way to create shareholder value—not by paying an outlandish price for a broken growth company!

Ouch! Read the whole thing.

Posted by edelfenbein at July 20, 2005 3:32 PM