Bank of America and Merrill Lynch merger was a shotgun marriage

[cjppjc]

Re: Bank of America and Merrill Lynch merger was a shotgun marriage

Also on his expensive commode and office.

From Jan 26th interview at Davos.

MARIA BARTIROMO: John, I wanna ask you more about the-- the-- environment that we're in. But I've gotta ask you-- first about the office. You spent more than $1 million renovating your office; is this true?


JOHN THAIN: Well, first of all, it-- it is true. This was a year ago or actually a little bit more than a year ago in a very differ-- different-- ec-- economic environment and a very different outlook for Merrill and the financial services industry. It was my office. It was two conference rooms and it was a reception area. But it is clear to me in today's world that it was a mistake. I apologize for spending that money on those-- on those things. And I will make it right. I will reimburse-- the company for all of those costs.




John the taxpayers are still waiting for a check.

You dont think he reimbursed the company? I'm sure he wipped out his checkbook right after the interview. After all, if you can't believe in the sincerity of a Fire Economy CEO, well you can you believe:eek:

[swgprop]

Re: Bank of America and Merrill Lynch merger was a shotgun marriage

Resurrection of scrutiny regarding Gubmint's involvement with the BofA/Merrill deal.

The problem, of course, was that Merrill Lynch was a bottomless pit of asset writedowns. Lewis, the deal maven, must have been crestfallen when he learned how poorly things were shaping up in Q4 2008- sour enough to cancel the deal outright. Enter Bernanke and Paulson. Depending on who you believe, Lewis was going to cancel this deal, only to be coerced by Paulson and/or Bernanke into allowing it to proceed. Let’s forget that this suggests Lewis was not minding his fiduciary responsibility. If true, we should all be very troubled that government officials were abusing their power in order to manipulate actions in the private sector.

http://www.nakedcapitalism.com/2009/...ummers-is.html

[audrey_girl]

Re: Bank of America and Merrill Lynch merger was a shotgun marriage

Reverend Billy from "The Church of life after Shopping" already did an Exorcism, so if that did not work perhaps a bank run will.

electric blue is such a great color on a Pastor

;)

[audrey_girl]

Re: Bank of America and Merrill Lynch merger was a shotgun marriage

ben taking the oath at 00:17 - so if he is lying its obstruction of justice; lying under oath



do you think they are setting him up to take the fall when the wheels start coming off??

throwing ben under the bus??

[swgprop]

Re: Bank of America and Merrill Lynch merger was a shotgun marriage

Fascinating stuff, and only the tip of the iceberg I suspect. Government threatens to remove the CEO and board so they buckle to the detriment of the shareholders, so much for fiduciary responsibility.

Would love to see a situation where the CEO stares back at Paulson, et al and simply says "Bring it".

But that would be a show of integrity and we are, after all, talking about banksters here ...

Guess it was a lose-lose situation. Bye Ken.

Lewis Is Said to Be Leaving Bank of America