Bank of America & the largest poker pot in the history of the world
The news that Treasury will provide BofA with $139 Billion for the Merrill Lynch deal, reminds Rocky of the saying: “If you’re in a poker game, and you don’t know who’s the sucker, then look in the mirror.”
Rocky speculates that Ken Lewis’ December threat to walk away from the Merrill deal was a massive bluff. The US Government folded.
Although Ken Lewis may be getting heat now, after the economy heals, Ken Lewis will be remembered as The Greatest Gambler of All Time.
Rocky also shares, “When I’m at a racetrack, I’ll never eat at a restaurant called Mom’s, nor bet on a horse owned by The Government.”