Saturday, February 6, 2010

Bank of America, in Today's News 02.05.10

Bank of America. The cryptocracy neither forgives nor forgets. They have been trying to "get" Ken Lewis, the former CEO of BoA, from the beginning of the financial crisis brought about by the cryptocracy. Why they are after him is unknown, but there is something about Lewis that the cryptocracy hates. 

Yesterday, Andrew Cuomo, the New York Attorney General, filed a civil complaint against Lewis for duping investors by failing to disclose mounting losses at Merrill Lynch and Co. before BoA tookover Merrill.

This action is the latest of many efforts to go after Lewis, including a congressional hearing. Lewis fought off most of the attacks, but the constant pressure finally forced him to resign.

One would think the cryptocracy would then forget and get on with other business. But, no, as the cryptocracy might say, 'vindictiveness R us.'  

Lewis, who is no angel, might now regret having resigned, because as a private citizen he is more vulnerable. He is probably wishing he had the BoA legal department in his corner now.

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