Whither Bank of America investment banking?

"I've had all of the fun I can stand in investment banking at the moment." So says Bank of America CEO Ken Lewis. It would take a masochist to enjoy what the bank has endured in its investment banking operations, which basically ruined what could have been an okay quarter. Lewis is saying he will announce plans for investment banking fairly soon, MarketWatch notes. If he decides to dramatically scale back, it will end what has been a pretty successful ramp up. The bank endeavored to build up a huge Wall Street presence and most think it was successful. The funny thing is that the bank was this close to averting the big 3Q losses. Let's say the hedges would have worked out. We would be celebrating right now. Maybe the appetite for such risk is just not there anymore.