THE BASIS POINT

Does BofA CEO Ken Lewis Want To Break Up The Bank?

Is Ken Lewis suggesting a rebirth of Glass Steagall? If so, the Grave of Phil Gramm’s must be turning over. And also the special interests of Gramm’s decades-long crusade to deregulate banking must have gotten to him, as the story that started this rumor has been updated. Lewis said something of the sort after a meeting with president Obama, and now the story shows revised comments from Lewis and his spokesperson.