Ken Lewis' February testimony to Andrew Cuomo et al: According to this morning's WSJ, based on statements that Ben Bernanke and Hank Paulson were said to have been made to him, Ken Lewis believed that he was supposed to keep mum about Merrill Lynch's financial woes, even though he risked not publicly disclosing material financial information about the increasingly risky merger to his shareholders. It was either that, or "impose a big risk to
the financial system". But according to statements from Bernanke and Paulson, it's not all that clear who said what and how Lewis' arm might have been twisted....
Continue reading "Did Ben Bernanke and Hank Paulson urge Bank of America CEO Ken Lewis to withhold the facts from his shareholders about Merrill Lynch's financial problems? ($BAC)" »