What else should you know?
This is Ken Lewis’ last act as CEO and I think it’s a big deal, says Gasparino. It moves BofA out of the government strangle hold. This was the thing he wanted to get done before he left.
(The move allows Bank of America to free itself from government restrictions on executive pay as well as other restrictions that come along with bailout funds.)
And it was Greg Curl's team who pulled it off. That suggests to me that Curl is now the most likely guy to become BofA's new CEO, speculates Gasparino.
And on a related note, Pete Najarian tells the desk -- I think Wells Fargo is next. They also want to get out of TARP.
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Trader disclosure: On December 2nd, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Terranova Owns (SU), (GOOG) ; Finerman's Firm Owns (BAC) Preferred, (BAC), (BAC) Calls; Finerman Owns (BAC) Preferred, (BAC); Finerman's Firm Owns (PLCE), (MSFT), (WMT), (PDE), (RIG), (TGT); Finerman's Firm Is Short (IJR), (IWM), (MDY), (SPY), (USO), (UNG; Grasso Owns (AAPL), (BA), (BAC), (C), (WMT), (V); Najarian Owns (AAPL) Call Spread; Najarian Owns (BRCD) & (BRCD) Calls; Najarian Owns (INTC) & Short (INTC) Calls; Najarian Owns (DELL) Calls; Najarian Owns (DE) Call Spread; Najarian Owns (FCX) Call Spread; Najarian Owns (INTC) & (INTC) Calls; Najarian Owns (UAUA) Call Spread
For Steve Grasso:
Stuart Frankel Owns (NWS),
Stuart Frankel Owns (PDE)
Stuart Frankel Owns (SDS)
Stuart Frankel Owns (YHOO)
Stuart Frankel is Short (QQQQ)
Funds Managed By Todd Gordon Are Short Eur/ Dollar
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