| Welcome to The New Coffee Room. We hope you enjoy your visit. You're currently viewing our forum as a guest. This means you are limited to certain areas of the board and there are some features you can't use. If you join our community, you'll be able to access member-only sections, and use many member-only features such as customizing your profile, sending personal messages, and voting in polls. Registration is simple, fast, and completely free. Join our community! If you're already a member please log in to your account to access all of our features: |
| Did Paulson Tell Ken Lewis To Keep Quiet? | |
|---|---|
| Tweet Topic Started: Apr 24 2009, 04:13 AM (227 Views) | |
| QuirtEvans | Apr 24 2009, 04:13 AM Post #1 |
|
I Owe It All To John D'Oh
|
According to Ken Lewis, Paulson and Bernanke threated to remove B of A management if they backed out of the Merrill deal, and Paulson instructed Ken Lewis not to make public disclosure about the potential effects of the merger.
http://www.washingtonpost.com/wp-dyn/content/article/2009/04/23/AR2009042302461.html?hpid=topnews It would be very interesting indeed to watch the SEC go after a former Secretary of the Treasury for aiding and abetting securities laws violations. I can't imagine that it will happen, though. Oh, and where did Paulson get the authority to do this? According to him, he didn't have the authority.
|
| It would be unwise to underestimate what large groups of ill-informed people acting together can achieve. -- John D'Oh, January 14, 2010. | |
![]() |
|
| Mikhailoh | Apr 24 2009, 04:16 AM Post #2 |
|
If you want trouble, find yourself a redhead
|
It's an interesting situation - when does 'taking charge' become coercion? Is it criminal? Apparently Paulson has said that yes, he did as described. Stay tuned - we haven't heard the last of this. |
|
Once in his life, every man is entitled to fall madly in love with a gorgeous redhead - Lucille Ball | |
![]() |
|
| QuirtEvans | Apr 24 2009, 04:23 AM Post #3 |
|
I Owe It All To John D'Oh
|
I doubt there will be any official action taken, because two of the three co-conspirators are still in office, and I doubt Obama will want to see Bernanke and Geithner sucked into this morass. However, Obama can't stop private lawsuits. |
| It would be unwise to underestimate what large groups of ill-informed people acting together can achieve. -- John D'Oh, January 14, 2010. | |
![]() |
|
| Mikhailoh | Apr 24 2009, 04:24 AM Post #4 |
|
If you want trouble, find yourself a redhead
|
I suspect you are right, but there are a whole lot of pissed off BofA investors. |
|
Once in his life, every man is entitled to fall madly in love with a gorgeous redhead - Lucille Ball | |
![]() |
|
| ivorythumper | Apr 24 2009, 09:40 PM Post #5 |
|
I am so adjective that I verb nouns!
|
FFS. If true, Paulson and Bernake ought to go to jail. |
| The dogma lives loudly within me. | |
![]() |
|
| Mark | Apr 25 2009, 03:32 AM Post #6 |
|
HOLY CARP!!!
|
Most of the government should be in jail. |
|
___.___ (_]===* o 0 When I see an adult on a bicycle, I do not despair for the future of the human race. H.G. Wells | |
![]() |
|
| Mikhailoh | Apr 25 2009, 03:53 AM Post #7 |
|
If you want trouble, find yourself a redhead
|
I don't know if I agree, IT. It remains to be seen how all this shakes out, and I really hate to come down on anyone who actually exhibits leadership in dire times. |
|
Once in his life, every man is entitled to fall madly in love with a gorgeous redhead - Lucille Ball | |
![]() |
|
| jon-nyc | Apr 25 2009, 04:05 AM Post #8 |
|
Cheers
|
Quirt - I seem to remember a few months back arguing that Treasury coerced banks into taking Tarp funds. Didn't you take the contrary view, saying Treasury didn't have the power? |
| In my defense, I was left unsupervised. | |
![]() |
|
| QuirtEvans | Apr 25 2009, 05:39 AM Post #9 |
|
I Owe It All To John D'Oh
|
what I said was a little more nuanced. I said Paulson didn't have the power unless they allowed him to pressure them. If I'd been Lewis, I'd have made Paulson put it in writing ... which he would not have done. Or I'd have gone public. |
| It would be unwise to underestimate what large groups of ill-informed people acting together can achieve. -- John D'Oh, January 14, 2010. | |
![]() |
|
| jon-nyc | Apr 25 2009, 06:04 AM Post #10 |
|
Cheers
|
Yeah, but you lack the temperament to ever be in charge of anything.
|
| In my defense, I was left unsupervised. | |
![]() |
|
| Mikhailoh | Apr 25 2009, 06:06 AM Post #11 |
|
If you want trouble, find yourself a redhead
|
That depends on the situation, now, doesn't it? Popular? Maybe not. Effective? That depends. If tenacity is key to success in a givens situation, Quirt would do just fine. |
|
Once in his life, every man is entitled to fall madly in love with a gorgeous redhead - Lucille Ball | |
![]() |
|
| jon-nyc | Apr 25 2009, 06:06 AM Post #12 |
|
Cheers
|
It is remarkable, though, what happened. Paulson basically ordered Lewis to sacrifice his shareholders equity for what he perceived to be the common good. And Lewis did it. (not for the common good, but for his own) As I've said all along, Lewis should have been fired long ago. Not by the government, of course, since he helped them out so much. But by his shareholders. It might happen this week. I think their board meeting is Tuesday. |
| In my defense, I was left unsupervised. | |
![]() |
|
| jon-nyc | Apr 25 2009, 06:06 AM Post #13 |
|
Cheers
|
I was just giving him some sh1t, I think he'd do fine. |
| In my defense, I was left unsupervised. | |
![]() |
|
| Mikhailoh | Apr 25 2009, 06:07 AM Post #14 |
|
If you want trouble, find yourself a redhead
|
Tarred and feathered is more likely. Edit: Lewis, that is.
|
|
Once in his life, every man is entitled to fall madly in love with a gorgeous redhead - Lucille Ball | |
![]() |
|
| « Previous Topic · The New Coffee Room · Next Topic » |







6:03 AM Jul 11