Idaho's Weekly Journal of Local & National Commentary Week 2815


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by Free Market Duck

B of A CEO ordered by Fed Reserve and U.S. Treasury to shut up about Merrill Lynch's billion dollar losses
Apr 23, 2009

From the WSJ's reading of investigative files...

Q: Were you [CEO Lewis] instructed not to tell your shareholders what the transaction was going to be?

A: I was instructed that "We do not want a public disclosure."

Q: Who said that to you?

A: Paulson... [former Treasury Sec Paulson]

Washington, DC Whoa, are you kidding, girl friends?  Pour yourself another hot cup of Rocket Java, pull up the floor and listen to this.

   "The Wall Street Journal previously reported, in a page-one story on Feb 5, that Mr. Lewis agreed to proceed with the Merrill merger only after Messrs. Paulson and [Fed Reserve Chief] Bernanke said that he and his board would lose their jobs if Bank of America backed out of the deal.  Mr. Lewis' testimony with the New York attorney general's office corroborates that account."

   Under the law, it is the responsibility of the CEO of a corporation to inform the shareholders of any adverse financial parameters that might affect their continued or future investments in said company.  By forcing CEO Lewis to keep silent -- on the presumption that the Fed Reserve's and the U.S. Treasury's Keynesian socialist bailout baloney was, and still is, necessary to stem a systemic risk to the banking system and thus the entire U.S. Market -- the government itself broke the law by lying to the public and the B of A stockholders by coercing CEO Lewis to clam up.

   The same type of Mafia strong arm tactics seem to be continuing, if not accelerating, under new President Barack Obama, as both GOP and Democrats have OK'd the usurpation of financial, corporate, and social power over virtually every aspect of the American economy -- all done under the guise of "saving the economy from a systemic risk."

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