There is a great opportunity to turn around not just Bank of America, but banking in America in general. Corporate turnaround wizard Wilbur Ross stated this opportunity very succinctly in an interview on CNBC Tuesday. He noted that big companies have no trouble getting access to capital, while small businesses and consumers do. This represents an opportunity banks are missing, and that Bank of America is well-positioned to capture. The board just needs to appoint someone to the top job who understands what needs to be done.
-- Written by Dan Freed in New York.