It was a relatively slow Monday morning for me, spent trying to kick-start my brain with a few cups of coffee, when Bank of America
Good ol' B of A announced Monday that it is hiring former Citigroup
For those not familiar with Krawcheck, she was a well-known analyst at Sanford C. Bernstein -- an arm of AllianceBernstein
Many questions come to mind here. For instance, does Bank of America envy the position that Citigroup is currently in? Or did Krawcheck leave her 2004-2007 stint as Citi's CFO off of her resume?
After all, she disastrously misread the position that Citi was in back at the height of the bubble and helped set the stage for the collapse of the bank. In a Fortune interview back in 2006, she responded to a question about consumer borrowing by saying, "On a macro basis, I think consumers are acting pretty rationally. ... The consumer doesn't seem stretched. I wouldn't bet against U.S. consumers. They're pretty rational folks." Oops!
To be sure, the role she'll be taking at Bank of America seems more suited to her background and experience at Sanford and probably leaves less room to mess up as massively as she did at Citi. However, if Bank of America is really considering her for CEO, then the bank either has a weird sense of humor or hates its shareholders.
I'm all for some shaking-up in the C-suites at major financial institutions like B of A, Citi, JPMorgan Chase
Further financial Foolishness: