Bank of America Seeks Interim Head

Bank of America may employ an interim CEO to replace departing head Ken Lewis when he leaves the company on Dec. 31, Bloomberg News reports. Initially, the bank's directors had said they wanted a permanent leader in place by Thanksgiving, but as The Daily Beast’s Charlie Gasparino has learned, none of the top candidates wanted the job. Four external candidates have turned the bank down. The main reason a replacement has been hard to find: salary. BofA needs to find someone who would be willing to take a paycheck low enough to please the Treasury Department paymaster, according to Bloomberg. One member of the House of Representatives told the directors that an internal candidate lacked the proper level of leadership. “For people who have choices, it’s hard to figure out why someone would take this job," said one Wall Street exec.