Countrywide was the worst decision Ken Lewis made.
After he made that stupid decision to buy countrywide Bank of America went down to the toilet from $45 $11 as of today. But the thing is that he left the bank with $$$$$ Millions and the investors left behind with massive Loss.
I would have to agree that the Countrywide decision will not be part of the greatest moves Ken Lewis made. I believe he was trying to be a hero to the Country as this institution was going down. Did the shareholders pay and are stilling paying yes! But I still believe Bofa will eventually emerge as the biggest and best bank in the world!
Agreed. It's heartening to hear you say that too. But it is hard to overstate the original poster's position. I'd like to think, as the saying goes, "someday we'll all look back at this and laugh". That would take some hell of a sense of humor though. Let's hope we all live long enough to see CW become an asset. It's hard to imagine now.