Ken Lewis seemed to get caught off guard in an interview with Maria Bartiromo. Lewis was discussing how he thought the investment bank model and mid size bank models weren't viable long-term. This is a significant prediction from a high-level executive.
BARTIROMO: SO RIGHT NOW WE HAVE, WHAT, 9,000 BANKS? 9,000 BANKS IN THIS COUNTRY. WHAT WILL YOUR PREDICTION BE AS FAR AS HOW MANY THERE ARE IN THE NEXT FIVE YEARS?
LEWIS: GOSH, I HAVEN’T THOUGHT ABOUTTHAT. MAYBE HALF.“
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