Now this is a good PR move. Jamie Dimon, CEO of JPMorgan Chase, has purchased 500,000 common shares in the bank, reports MarketWatch. At $22.92 each, the investment cost more than $11 million. Meanwhile, Ken Lewis, CEO of Bank of America, bought 200,000 common shares of his bank, for roughly $1.2 million. Several directors of the bank also are said to have 300,000 shares collectively. I doubt anyone will see this as a super bullish signal, but at least they're putting some of their money where their mouths are. I have consistently said that CEOs of top banks really ought to be doing this; it sends the right message. That said, no one should assume these banks are in the clear. They're far from it. Back in July, Robert Steel, then the newly appointed CEO of Wachovia, bought 1 million shares at about $16 each. He lost money when the bank was forced to sell itself to Wells Fargo.

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Wachovia CEO buys shares