Joe Nocera's Best Column Is This Week

(c) 2009 F. Bruce Abel

This column reveals the dirty secret about those who were running our financial institutions. Ken Lewis was merely an operations man, no leader. And he was a coward and insecure, so there was no succession plan. He bit on every merger and bought Merrill Lynch inartfully, even negligently.

My praise for this column might have been tempered had I seen Lewis's poor performance before Congress, apparantly this week. That would have given Nocera a lot of the interesting fodder of his article.

http://www.nytimes.com/2009/10/03/business/03nocera.html