Alias, look on the bright side. At least he told Fuld to stick it where the sun don't shine when Fuld tried to ask him to bailout Lehman--then B of A would be totally screwed.
Yes...this goes out to all those involved in the mortgage crisis, especially those bankers who packaged the loans into CDOs:
I went to a school that you highly recruit from, I went to many of your firmwide presentations. There was one overarching message: We are looking for the best and the brightest, and we have the best and the brightest.
You are totally full of bullsh*t. Even somebody with no financial background could tell you that making it easier to buy a house than it was to buy a car is just simply screwed up. Yet you not only enabled it, you decided to package these risky loans together, which somehow made the risk of default that much more unlikely, and you profited from them. Yet, when your company's stock price plummeted like a stone, you claimed that you didn't understand the risk. Then you asked Congress for some relief for your minor "oopsies," promising that it would never, ever happen again, and now, you refuse to reveal how you are spending that relief money--the taxpayers money for gosh sakes, some of whom have lost their jobs because of this meltdown caused by your incompetence. Why the eff were you taking the risk if you didn't understand it? How can we taxpayers honestly trust you with our money when you didn't so well the first time around?
Get out of your trader mentality and start looking long term rather than trying to make the quick buck.