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Bank of America to take over GM at request of US government

by Trader Joe

Charlotte, NC (Stool Pigeons Wire) – Bank of America will take over GM at request of the US government. When asked, Ken Lewis, CEO of Bank of America stated, “We think that GM will be a good strategic fit for Bank of America. Along with our forced acquisitions of Countrywide and Merrill Lynch we feel that this positions the company for excellent future growth prospects. We further expect this acquisition to be earnings accretive by mid-2010″

Lewis also stated, ” I used to work on my own 69 Chevy Camaro back in college, so I think that I am well positioned to integrate GM into Bank of America.”

Additional discussion here.

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