That leaves MBNA (nyse: KRB - news - people ), another giant in the cards business, as a possible winning buyer, says analyst Bove.

FORBES: Adding Up A Morgan Stanley Split

All this is going on as Lewis strikes deals to buy credit card company MBNA (nyse: KRB - news - people ) and a stake in China Construction Bank.

FORBES: Lewis's BofA Adds Morgan Stanley Veteran

Traders had shorted more than 103 million shares of Bank of America (nyse: BAC - news - people ) as of mid-December, indicating a frenzy of arbitrage activity prior to the closing of the bank's acquisition of MBNA (nyse: KRB - news - people ).

FORBES: Go Slow On Bank Stocks