‘Love the one you're with' - that the call from some industry watchers as market chatter heats up that Ken Lewis, who announced he would step down as CEO at the end of the year, might actually stay on as BofA’s head honcho.
The search for a replacement has been anything but a smooth process, explains CNBC’s Charlie Gasparino. There have been numerous delays as well as civil war -- and as a result a clear front runner has yet to emerge.
With the Merrill deal looking better and better each day - could Lewis actually remain as the boss?
It’s been a bungled process, says Gasparino, and to give you an idea of just how badly its been bungled BofA Chairman Walter Massey is on vacation this week.
That means, they can’t make a decision this week. If you’re ever going to not take a vacation this is the week, muses Gasparino.
Now a lot of major analysts such as Dick Bove and Mike Mayo are starting to say unless NY Attorney General Andrew Cuomo is going to file some serious fraud charge against Lewis, leave him alone and let him stay in there.
They say Bank of America is in a serious position and needs a very experienced person to run the bank; it doesn’t look like they have it.
That’s a major change in the rhetoric. And we'll be watching. (You can find our entire interview with Charlie Gasparino at the end of the Word on the Street video above.)
What do you think? We want to know!
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Trader disclosure: On November 13th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Grasso Owns (AAPL), (ABK), (ASTM), (BAC), (BGP), (C), (COST), (FAZ), (PFE), (MRK), (V), (WMT); Finerman's Firm Owns (BAC) Preferred, (BAC), (BAC) Call Spreads; Finerman Owns (BAC) Preferred, (BAC; Finerman's Firm Owns (FLS), Is Short (FLS) Calls; Finerman Owns (FLS); Finerman's Firm Owns (MSFT), (NOK), (PLCE), (TGT), (WMT); Finerman's Firm Is Short (USO), (IJR), (MDY), (IWM), (UNG); Finerman's Firm And Finerman Own (WFC) Preferred; Finerman's Firm Owns (M); Finerman's Firm Owns (RIG), Is Short (RIG) Calls; Finerman Owns (RIG); Terranova Owns Crude Oil Dec. Futures; Terranova Owns (GS), (JPM), (SU), (AAPL), (GOOG), (JCP); Terranova Is Short (ANF)
For Joe Terranova
Terranova Works For (VRTS)
Terranova Is Chief Market Strategist Of Virtus Investment Partners, Ltd.
Virtus Investment Partners Owns More Than 1% Of (CLB)
Virtus Investment Partners Owns More Than 1% Of (DLR)
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (XLY)
Virtus Investment Partners Owns More Than 1% Of (DBC)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (UA)
For Steve Grasso:
Stuart Frankel And Its Partners Own (CMCSK)
Stuart Frankel And Its Partners Own (CUBA)
Stuart Frankel And Its Partners Own (GERN)
Stuart Frankel And Its Partners Own (HSPO)
Stuart Frankel And Its Partners Own (NWS.A)
Stuart Frankel And Its Partners Own (NXST)
Stuart Frankel And Its Partners Own (NYX)
Stuart Frankel And Its Partners Own (PDE)
Stuart Frankel And Its Partners Own (PRST)
Stuart Frankel And Its Partners Own (RDC)
Stuart Frankel And Its Partners Own (ROK)
Stuart Frankel And Its Partners Own (TLM)
Stuart Frankel And Its Partners Own (XRX)
Stuart Frankel And Its Partners Own (SDS)
Stuart Frankel And Its Partners Are Short (QQQQ)
Stuart Frankel And Its Partners Are Short (CL)
For Todd Gordon:
GAIN Capital's Managed Accounts Own Australian Dollar, Are Short U.S. Dollar
For Brent Thill:
(MSFT) Is Or In Past 12 Months Has Been An Investment Banking Client Of UBS Securities LLC
(MSFT) Is Or In Past 12 Months Has Been A Non-Securities Client Of UBS Securities LLC
UBS Securities LLC Has Received Compensation From (MSFT) In Past 12 Months
For Finerman:
On 10/12/09 Finerman's Firm Owned (WMT)
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