After a string of acquisitions capped by ailing Merrill and Countrywide, the nation's biggest bank is about to become too big to fail. But is it also too big to manage?
Is Bank of America (BAC, news, msgs) too big to fail -- or is it just too big?
After scooping up Merrill Lynch (MER, news, msgs), Bank of America chief Kenneth Lewis will have his hands full running the banking behemoth that he's built through a string of high-profile acquisitions.
But is he buying trouble with Merrill and getting in over his head?
On the surface, the purchase looks like a dream deal. The proposed takeover would add Merrill's powerful U.S. retail brokerage sales force. And it would fill a big hole at Bank of America by bringing in Merrill's foreign money management and investment banking operations.
Saturday, September 27, 2008
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