That's what
bearish Oppenheimer analyst Meredith Whitney told Reuters at the the Reuters Global Finance Summit yesterday.
In her view, the bank is unlikey to be profitable for several years. Its strategy was that its many financial services businesses could boost their revenue by selling products to one another's clients. "But that does not seem to be happening because the
company has not invested enough money in integrating different units' computer and risk management systems," she says.
In a more colourful quote, she adds that "it would take Stephen Hawking four years to right that ship."