This is the Motley Fool's Financials Edition, where we make banking news interesting, or at least less boring. Hello everyone Gabby lepera here with John Maxfield on the phone.

Today we're going to be talking about Bank of America and the Fed doing well nothing.

So let's start with Bank of America because something's actually going on there.

We talked about this a few weeks ago, so back in September of 2014, Bank of America quietly merged the position of CEO and

chairman of the board. This caused an outcry amongst investors who had voted to

split the positions during the financial crisis in 2009. Back then Ken Lewis was in charge and Brian Monaghan

took over for him as CEO in 2010 what's Monaghan's track record like Maxfield?

You know I there's a people think know, look at this differently than I do.

I get the impression when I read the news media, but it is my impression that Moynihan

has done an excellent job as CEO of Bank of America.

What's important to understand is that, like, are they struggling?

Yes, absolutely struggling.

Have they struggled over the last, what, five or six years?

Yeah, absolutely.

But none of that was Brian Moynihan's making.

Brian Moynihan stepped into the CEO position in the very beginning of 2010

after that country, that disastrous countrywide financial that caused all these losses occurred.

So he has just really been the cleanup guy, which has been, it's my understanding

that that has really been his role, quite frankly, at both Bank of America and at Fleet

Boston Financial, which is the company he was at before Bank of America, but Fleet Boston was actually purchased by Bank of America

for his entire time at the organization.

So I personally think that, you know, if this is a referendum on anything, it's not a referendum on Brian Moynihan's performance

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