Heard at the Scuttlebutt

I heard a very disturbing rumor yesterday at the Castle Sidewalker scuttlebutt. I normally don't give much credit to rumors, but as you will see this one may have some legs.

The word out there is that Bank of America (BAC.N) may need some more money to stop from going belly up. It would be no great surprise to me, after their acquisition of Countrywide and then their forced ingestion of Merrill Lynch; I'm shocked they have managed to survive this long!

Previously I have commented about Bank of America's CEO Ken Lewis when he testified to Congress in the post Flaming Pantaloons in D.C. It came down to the fact that either Mr. Lewis, or Bumblin' Ben Bernanke the Federal Reserve Chairman was telling a massive whopper about the Merrill Lynch transaction. At the time it was a tough call to make, as Bumblin' Ben has a great portfolio of whoppers himself, including but not restricted to "...we have sub-prime contained" and denying the recession until we were a year into it.

It looks like Bumblin' Ben won that encounter as Ken Lewis is stepping down at the end of the year to concentrate on enriching a host of lawyers, as they try to defend him from the raft of lawsuits headed his way.

So as you can see there is no honor amongst this bunch of thieves. With their track record I can't dismiss any rumor I hear in the financial sector.

Will Bank of America be dipping their hand into my pocket once again? Hopefully not. Can I guarantee it won't happen? Definitely not!


-Luke Sidewalker
-Current balance $24.10

Flaming Pantaloons in D.C.!

The Fire Department of Washington D.C. was stretched to the limit yesterday as a firestorm of spontaneously combusting pants broke out on Capitol Hill. The Washington D.C. Fire Chief said, "We are not sure who started the inferno, but we have narrowed it down to two possible sources, Ken Lewis CEO of Bank of America (BAC.N) and Ben Bernanke the Federal Reserve Chairman". In a bizarre move the Fire Chief went on to give the responsibility of concluding the investigation of the conflagration to the House Committee on Oversight and Government Reform. And these clowns want me to deposit the full $11.06 of the Sidewalker Fund in a bank!? Strange times indeed. The full story can be read here from CNN.

In other news, it gives me great pleasure to announce the first coin find by our very own Little Miss Sidewalker yesterday. I was in the middle of berating her for crawling around on the floor of a bar (before midnight) when she came up to me and spat a dime out of her mouth. Not the preferred Sidewalker method for retrieving a coin in that situation as I discussed in my post yesterday, but I have come to accept that Little Miss Sidewalker marches to the beat of her own drum. Ah the joys of fatherhood.

-Luke Sidewalker
-Current balance $11.06