POT CALLS THE KETTLE BLACK

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November 22, 2005

Mitch Stapley has a rather grand title. He is the Chief Fixed Income Officer for Fifth Third Bank of Michigan. Like Punxsatawney Phil, he pops his head out of his hole every so often to pronounce a forecast -- except that Mitch forecasts the financial markets, not the weather. Last week Mitch told General Motors shareholders to drop their stock like a hot potato. Whatever the merits of that advice, I must wonder what Mitch told Fifth Third shareholders over the past three years as CEO George Schaeffer and the gang destroyed half the bank's stock value.

Posted on November 22, 2005 at 08:44 AM in Banks | Permalink

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