In a blatant attempt to show confidence just for the sake of showing confidence, Bank of America (BAC) CEO Ken Lewis bought 200,000 shares of his company yesterday. All told, he and other execs purchased 513,000 shares.
Shares of Bank of America are now up nearly 25%, on what’s turning into a pretty strong day for banks.
Of course, Ken Lewis has plenty of skin in the game already. He previously owned about 1.8 million shares, meaning he’s seen his personal holdings fall from around $90 million last year to less than $10 million this year. No tears of course — Lewis should be fired.
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