Posted on 06/12/2009 1:41:09 AM PDT by Scanian
Bank of America's chief executive Thursday for the first time said publicly that officials in the Bush administration and the Federal Reserve threatened to remove top executives of the bank unless the financial giant merged with the troubled Merrill Lynch for the good of the foundering economy.
Bank of America's Kenneth Lewis told the House Oversight and Government Reform Committee that the threat was not the deciding factor in the bank's acquisition of the nation's largest investment banking firm. But he added: "What gave me concern was that they would make that threat to a bank in good standing."
The testimony came as the No. 2 Republican in the House said President Obama's handling of the auto company bailouts was comparable to the strong-arm tactics of Russian Prime Minister Vladimir Putin
(Excerpt) Read more at washingtontimes.com ...
Fascism: Private ownership, public control.
Clinton, Bush and Obama will be known as the 3 worst presidents in history. Hopefully there will be an America in the future.
I agree. If Lewis is correct he should go to jail along with Bernake and Paulson.
“public” = state (a small elite)
I'm not sure about Lewis as it appears he was a wuss who was browbeaten by Treasury; Bernake, probably; Paulson, ABSOLUTELY!!
His conduct would make any Mafia Don proud and Paulson was probably (though the list is LONG) W's worst appointment and what Paulson started, the FASCIST Dear Leader has taken and magnified, 10-fold and I was wondering if perhaps that is why (though not a legitimated excuse) the the Pubies are acting like a bunch of eunuch, sheeple, afraid to raise any objections about The Teleprompter King's Stat-ism, less the light of day be shone on W's shenanigans?
Spot on. The Demopublicans are part of the same fascist cabal. Let’s include ALL the Republicans who supported TARP in that characterization including Gingrich, Romney, and the entire House and Senate GOP leadership. If we are looking for candidates to support in the next election, they should come the ranks of those Republicans, such as Ron Paul, who stood up against TARP.
Yep. I laugh whenever people say that the “taxpayers” will actually make money from the government bailout of this company or that... even under the extremely dubious scenario where that is true, the taxpayers won’t see a dime; it all goes to the federal behemoth.
Even if taxpayers did end up making money out of these bailouts would that make it right? That’s like saying “I’m not a member of the Soprano’s family or crew but they pay me well to look the other way when they use my warehouse.”
***Even if taxpayers did end up making money out of these bailouts would that make it right?***
Once the government decides on a bailout, I’m not sure any outcome is right.
Fascism - beyond the pale.
I distrusted Bush’s treasurer and still cannot believe so many Republicans went along with TARP. The decision was clear if one acted from principles.
Agreed. The whole idea was corrupt from the beginning.
***I distrusted Bush’s treasurer and still cannot believe so many Republicans went along with TARP.***
It’s not fascism when we do it! /s
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