Is anybody paying attention to the U.S. strong-arming Bank of America buyout of Merrill Lynch (the mainstreams aren’t discussing it much, mainly the tasteless Palin-Letterman joke controversy. Al Franken is a far more reputable gap-toothed Dem. than Letterman, he does more U.S.O. work, for one)? Lawmakers grilled Bank of America Corp. Chief Executive Kenneth Lewis on his decisions to seek cover from the Federal Reserve and not tell shareholders about losses at Merrill Lynch & Co. last December.
But Mr. Lewis, supposedly, if not a trifle flustered, stood his ground before the House Committee on Oversight and Government Reform on Thursday, defending the decision to go ahead with the government-assisted Merrill takeover and keep the firm’s ballooning losses secret. The CEO also said he didn’t feel that federal officials acted improperly in the deal–because they had his livelihood, and cajones, where they wanted ‘em, that’s why he’s at liberty to entertain that thought.
The 62-year-old acknowledged publicly for the first time that the government threatened to remove him or other officials should they not agree to this measure…
Now, it’s either that the Powers that Are saw this whole fiasco coming and are pursuing, as we see now, “failed” preemptive measures or, as many believe, like myself, this is merely a way to wrest control of private enterprise away from the private citizen-shareholders-working middle class. I mean, like Venezuela, the U.S. now owns over 60% of the banking, insurance, and automotive niches in this country, and Barack, in his domestic economic policy, is the modern equivalent of the Polizei. Welcome to the Weimar of the 20’s.
Toles is no Draper Hill or Gillray. Anyway…
Is anybody paying attention to the U.S. strong-arming Bank of America buyout of Merrill Lynch (the mainstreams aren’t discussing it much, mainly the tasteless Palin-Letterman joke controversy. Al Franken is a far more reputable gap-toothed Dem. than Letterman, he does more U.S.O. work, for one)? Lawmakers grilled Bank of America Corp. Chief Executive Kenneth Lewis on his decisions to seek cover from the Federal Reserve and not tell shareholders about losses at Merrill Lynch & Co. last December.
But Mr. Lewis, supposedly, if not a trifle flustered, stood his ground before the House Committee on Oversight and Government Reform on Thursday, defending the decision to go ahead with the government-assisted Merrill takeover and keep the firm’s ballooning losses secret. The CEO also said he didn’t feel that federal officials acted improperly in the deal–because they had his livelihood, and cajones, where they wanted ‘em, that’s why he’s at liberty to entertain that thought.
The 62-year-old acknowledged publicly for the first time that the government threatened to remove him or other officials should they not agree to this measure…
Now, it’s either that the Powers that Are saw this whole fiasco coming and are pursuing, as we see now, “failed” preemptive measures or, as many believe, like myself, this is merely a way to wrest control of private enterprise away from the private citizen-shareholders-working middle class. I mean, like Venezuela, the U.S. now owns over 60% of the banking, insurance, and automotive niches in this country, and Barack, in his domestic economic policy, is the modern equivalent of the Polizei. Welcome to the Weimar of the 20’s.
http://english.pravda.ru/opinion/columnists/107459-0/