Former NJ Governor and Goldman Sachs CEO Jon Corzine has denied the rumors that he's been approached to fill the vacancy left by Ken Lewis as CEO of Bank of America. I guess we can cross another one off the list. The BofA gig is quickly becoming one of the toughest jobs in America to fill.
“I can confirm I have not spoken with them,” Corzine said. “I’ve been reading books and never really thought about that."
Uh, yeah. I like to read, too. It sounds like Corzine doesn't want to add insult to injury by admitting that he told the BofA board that he'd sooner jerk off buffalo for a nickel a herd than take over the train wreck that is Bank of America, but that's just my guess.
He didn't do the best job at Goldman Sachs, they sustained a lot of losses in bond trading while he was there. Not to mention how much does he really know about commercial banking...
I don't know about him not doing a good job at GS. It was a weird situation between him and Paulson. I agree that he's not a good fit for BofA, though. That move would be the banking equivalent of going from being the Maitre D' at the Four Seasons to being a night manager at Taco Bell.
Why all the hate for BofA?
Crappy job or not, whoever ends up with the gig and does a good job will become a legend in this business. It is not like BofA exactly lacks resources/balance sheet to not start performing better.
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