Ball point pen on the morning newsprint

Kenneth Lewis is stepping down as CEO of Bank of America, after presiding over the paying a premium for the failing Merrill Lynch, the ill advised bonuses, two government bailouts and the evaporation of fortunes when shares of Bank of America (BAC) slipped from a high of 54.85 in 2006 to 3.14. For said stewardship he was compensated handsomely. In 2007 his compensation was valued at more than $20.4 million, 10% less for 2006. He will collect a pension worth 53.2 million dollars.

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