Posted on 02/04/2010 10:05:25 AM PST by BIOCHEMKY
NEW YORK -- Bank of America Corp, former chief executive Kenneth Lewis and former chief financial officer Joe Price were charged with fraud by New York's attorney general over the bank's acquisition of Merrill Lynch & Co.
Attorney General Andrew Cuomo accused the defendants of intentionally failing to disclose massive losses that Merrill was racking up prior to Dec. 5 shareholder votes on the merger.
After concealing the losses, the defendants then told the federal government the bank would back out of the merger if it did not get billions of dollars of taxpayer help, according to Mr. Cuomo.
(Excerpt) Read more at nationalpost.com ...
So it begins.
Similar attacks are what vaulted Spitzer into the Governor’s office.
We’ll see if the NYers remember how much they hated papa Cuomo and vote for him for governor.
Going to be very interesting since Cuomo is hated hated hated by the Kennedy’s.
If I understand this correctly, the Feds made BOA by ML, then told BOA not to disclose any bad info, and not they are prosecuting them for not disclosing. Do I have the right?
Why stop with just Lewis? There were others involved and just as guilty.
“Going to be very interesting since Cuomo is hated hated hated by the Kennedy’s.”
I respect the memories of Jack and Bobby Kennedy for many reasons (and not for others), however, I believe that the “Kennedy Age” is coming to an end....
So what was the motivation for concealing the losses?
I think Ken Lewis is more honest than Andrew Cuomo
At least he was never Clinton’s HUD secretary
http://www.villagevoice.com/content/printVersion/541234?ref=patrick.net
If I understand this correctly, the Feds made BOA by ML, then told BOA not to disclose any bad info, and not they are prosecuting them for not disclosing. Do I have the right?
Pretty much spot on. But like bammy and every other dem Cuomo can’t pass on the opportunity for high profile demogougery. If you ever wanted to know why NY as a state is still borne economically, look no further than this putz.
Maybe bambi should think this through. He may find himself in a situation where he needs the banks to do him a favor. Do you think any of them will?
any trial should be very interesting.
I presume Paulson is well lawyered up
What about the head of the NY FED at the time, Timothy Geithner, who invented the ‘derivatives’ , also ok’d and worked out the deals because he was ‘uniquely qualified’....
oh those lousy #$%$#@^@^#^ - i KNEW he was gonna be the fall guy.
those rotten, no good @#$%#@^%$#@^
paulie paulson FORCED that guy into bed with Treasury !
AAAAHHHH !!!!!
if i was Lewis I WOULD HAVE WALKED OUT OF THAT ROOM AND DARED THOSE SOB’S TO STOP ME.
The Government should fear us
.
I would not believe Mr.[to use the term very losely] Cumo if he said that rain was wet standing on a stack of Bibles that reached from here to the Milky Way. But...
OK. Well at least I know I’m not losing my mind. Welcome to Bizzro world
It’s a non-started.
Just like Blago in Illinois.
The defense could call witnesses far to sensitive to the stand.
In essence Cuomo is picking a fight with his own cronies.
Pls correct me if I am wrong
Show trials are a very Socialist\Marxist thing.
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