Message Font: Serif | Sans-Serif
 
No. of Recommendations: 5
Dude, BAC bought CFC, and now we're stuck with all the good and the bad. There was no arm twisting, there was just BAC money already invested, and Lewis decided to throw good money after bad.

Lewis definitely paid too much for MER, but CFC was an entirely different story. It was a bad acquisition made by a power hungry CEO who should have cut his losses (our losses, actually). He should have let CFC go belly up.

I know this is easy to say after the fact, but trying to go after anyone at this point is useless. The CEO made a bad decision, the shareholders are now paying for it. Welcome to corporate america.
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement