Sometimes you have to break up the bank in order to save it. The Wall Street Journal reports that at least two candidates for the top job at Bank of America have suggested breaking the giant bank up to the board of directors, but so far the board has rejected the idea. One of the candidates floating the idea is Michael O’Neill, a Citigroup Inc. director and former CEO of Bank of Hawaii Corp. and Barclays PLC. He was rejected as a candidate for the job. Bank of America’s current CEO, Ken Lewis, will step down at the New Year.
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