Bove in on the tube more recently than either Obama or McCain.
Watch the video:
Bove is right that replacing Lehman (LEH) CEO Dick Fuld will not “fix” Lehman. But, Fuld is responsible for the mess they are in and replacing him would be a step in the right direction to restore investor optimism.
Fuld clearly has not had a grasp on what is happening there, or, does and has been less than forthright with investors. Either scenario ought to remove him from the top spot.
Let’s reverse it. What will keeping him due do to better the situation? Lehman is still going to have to hold a fire-sale with or without him. A move to a new guy might at least stabilize things and give the company, which relies on its reputation for its business some breathing room.
Lord knows it would be hard to make things worse…
Disclosure (“none” means no position):None
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