Comments on: BofA CEO confirms government coerced him into Merrill deal http://www.creditwritedowns.com/2009/04/bofa-ceo-confirms-government-coerced-him-into-merrill-deal.html Sat, 21 Nov 2009 08:48:41 -0700 http://wordpress.org/?v=2.8.6 hourly 1 By: The horrible self-dealing of Ken Lews and the principal-agent problem - Credit Writedowns http://www.creditwritedowns.com/2009/04/bofa-ceo-confirms-government-coerced-him-into-merrill-deal.html/comment-page-1#comment-4816 The horrible self-dealing of Ken Lews and the principal-agent problem - Credit Writedowns Mon, 27 Apr 2009 00:17:17 +0000 http://www.creditwritedowns.com/?p=8000#comment-4816 [...] looks ready to blow up and take the system down with it.Bank of America steps in - or better yet, is coerced in - and pays $44 billion for Merrill.But, the market freefall continues, taking WaMu, AIG and [...] [...] looks ready to blow up and take the system down with it.Bank of America steps in – or better yet, is coerced in – and pays $44 billion for Merrill.But, the market freefall continues, taking WaMu, AIG and [...]

]]> By: Edward Harrison http://www.creditwritedowns.com/2009/04/bofa-ceo-confirms-government-coerced-him-into-merrill-deal.html/comment-page-1#comment-4859 Edward Harrison Thu, 23 Apr 2009 16:49:09 +0000 http://www.creditwritedowns.com/?p=8000#comment-4859 Jeff,<br><br>I couldn't agree more regarding Lewis' credibility. BofA is really Nations Bank, an acquisitive super regional that used deregulation and a bull market to leap into the big leagues. Ken Lewis has benefited from all of this. It is not clear to me that Bank of America has anything going for it other than size, unlike JPMorgan Chase, a better run institution.<br><br>The whole mess surrounding BofA and Merrills stinks to high heaven. There are definitely things we are not privy too which we should be privy to. The U.S. government must eventually be forced to reveal more about what it has been doing behind the scenes. These deals should not be state secrets.<br><br>Let's see how Bloomberg gets on in their lawsuit against the Fed. That may be a test case for better disclosure. Jeff,

I couldn't agree more regarding Lewis' credibility. BofA is really Nations Bank, an acquisitive super regional that used deregulation and a bull market to leap into the big leagues. Ken Lewis has benefited from all of this. It is not clear to me that Bank of America has anything going for it other than size, unlike JPMorgan Chase, a better run institution.

The whole mess surrounding BofA and Merrills stinks to high heaven. There are definitely things we are not privy too which we should be privy to. The U.S. government must eventually be forced to reveal more about what it has been doing behind the scenes. These deals should not be state secrets.

Let's see how Bloomberg gets on in their lawsuit against the Fed. That may be a test case for better disclosure.

]]> By: Jporter http://www.creditwritedowns.com/2009/04/bofa-ceo-confirms-government-coerced-him-into-merrill-deal.html/comment-page-1#comment-4858 Jporter Thu, 23 Apr 2009 16:26:30 +0000 http://www.creditwritedowns.com/?p=8000#comment-4858 Great post Edward. These are fascinating developments. I do question Lewis's credibility a bit at this point considering the pickle he's in. Great post Edward. These are fascinating developments. I do question Lewis's credibility a bit at this point considering the pickle he's in.

]]> By: Edward Harrison http://www.creditwritedowns.com/2009/04/bofa-ceo-confirms-government-coerced-him-into-merrill-deal.html/comment-page-1#comment-4762 Edward Harrison Thu, 23 Apr 2009 13:49:09 +0000 http://www.creditwritedowns.com/?p=8000#comment-4762 Jeff,<br><br>I couldn't agree more regarding Lewis' credibility. BofA is really Nations Bank, an acquisitive super regional that used deregulation and a bull market to leap into the big leagues. Ken Lewis has benefited from all of this. It is not clear to me that Bank of America has anything going for it other than size, unlike JPMorgan Chase, a better run institution.<br><br>The whole mess surrounding BofA and Merrills stinks to high heaven. There are definitely things we are not privy too which we should be privy to. The U.S. government must eventually be forced to reveal more about what it has been doing behind the scenes. These deals should not be state secrets.<br><br>Let's see how Bloomberg gets on in their lawsuit against the Fed. That may be a test case for better disclosure. Jeff,

I couldn't agree more regarding Lewis' credibility. BofA is really Nations Bank, an acquisitive super regional that used deregulation and a bull market to leap into the big leagues. Ken Lewis has benefited from all of this. It is not clear to me that Bank of America has anything going for it other than size, unlike JPMorgan Chase, a better run institution.

The whole mess surrounding BofA and Merrills stinks to high heaven. There are definitely things we are not privy too which we should be privy to. The U.S. government must eventually be forced to reveal more about what it has been doing behind the scenes. These deals should not be state secrets.

Let's see how Bloomberg gets on in their lawsuit against the Fed. That may be a test case for better disclosure.

]]> By: Jporter http://www.creditwritedowns.com/2009/04/bofa-ceo-confirms-government-coerced-him-into-merrill-deal.html/comment-page-1#comment-4760 Jporter Thu, 23 Apr 2009 13:26:30 +0000 http://www.creditwritedowns.com/?p=8000#comment-4760 Great post Edward. These are fascinating developments. I do question Lewis's credibility a bit at this point considering the pickle he's in. Great post Edward. These are fascinating developments. I do question Lewis's credibility a bit at this point considering the pickle he's in.

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