2009-04-23reuters.com

Bank of America Corp CEO Kenneth Lewis testified under oath that Federal Reserve Chairman Ben Bernanke and then-Treasury Secretary Henry Paulson pressured him to keep quiet about losses at Merrill Lynch & Co, which the bank was buying, the Wall Street Journal reported.

As we suspected, Ken Lewis isn't that reckless -- he only did this deal because the Money Masters deemed that it would be "good". This is why even an implicit support is deep intervention, and deep folly. Very disturbing.



Comments: Be the first to add a comment

add a comment | go to forum thread