One of the many 'other shoes' dropped tonight -- with the announcement that B of A is, even with all the government assistance, short about $35B....give or take a billion.
Here's the translation, courtesy of comment by 'mmckinl'....
...B of A market cap 69 billion
...TARP 45 billion
...capitalization 24 billion
...and they need 35 billion
... = Insolvency
And Lewis was going to pay back TARP by the end of 2009 80 billion ...
The upshot? Well, 'mmckinl' thinks Lewis should be fired...and I suspect by this time tomorrow he won't be the only one thinking that. Looks like a change of command will occur shortly. That sound you hear? Lewis boxing up his belongings...