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Moment of Truth for Bank of America's Board

Well, as long as they only change to a new CEO they will not get to a new position.

In my opinion the whole management structure has to be overdone and all the managers, which have cause the trouble, should be fired.

If you leave them in the bank, they still will use their own old structures to get what they want.

Changing one person is not enough.
Bank of America's board should be reconstituted and removal of CEO Walter Massey is positive step in this direction.It should be welcomed by all those who are closely monitoring the recession .The CEO and his associates has acted in an unprofessional manner in the hour of crisis, where as,the peers like CITIGROUP and GOLDMAN SACHS has performed so well.I think it is just a beginning and so many other so called banking stalwarts of BOA would be removed by the new CEO.

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