Sunday, May 18, 2014
Were they doing a “great job” or just a “good job?”
At a
conference in London on Wednesday, Bank of America’s CFO
Bruce Thompson was asked to comment on the accounting error that wrongly
inflated the bank's capital ratios but he demurred, saying that the bank would
"get back to doing a great job" on the stress test process and share
buybacks, which were derailed by the error.
The stock has dropped from $18 to $14 due to the schoolboy error,
resulting in the loss of $40 billion in market capitalization.
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