AP Source: NY Attorney General preparing charges against BofA execs over Merrill Lynch deal

AP/Baltimoresun.com ^ | 9/14/09 | STEPHEN BERNARD

[Kartographer]

The New York Attorney General's office is preparing charges against several high-ranking Bank of America executives over the bank's alleged failure to disclose details about its acquisition of Merrill Lynch, according to a person familiar with the investigation.

[Kartographer]

Going to get crowded at the 'country club' jails.

[A CA Guy]

Holy Cow, first the government kind of made the B of A acuire Merril and now the NY Attorney General is preparing charges?
Has to be the pits for the B of A.

[rbg81]

Is this payback for BofA’s Lewis blowing the whistle on being threatened by Bernake and Paulson? The Magic 8 Balls says: “signs point to yes”.

[A CA Guy]

I think it is something to make news for the failing White House to avert pressure.
Many believe that we are going to have a bigger hit with banks and the stock market by year's end that will far surpass 2008.

This all could be a big diversion.

[NativeNewYorker]

I detest Cuomo...but in this case he is right. B of A broke every disclosure/right to know rule in the book on the Merrill deal, and their management should swing. As should Paulson/Geithner/Bernanke, I might add.

[NonValueAdded]

Didn't Frontline run a story on that merger? Sounded like the only guys with (relatively) clean hands were the BoA execs. IIRC, the lack of due dilligence was starting to trouble the BoA side and the gubermint forced the deal with threats. Meanwhile the Merrill side were stripping the carcass now that the Fed gave them the out of the merger.

What is this, Spitzer-lite?

Yeah, breaking the bank

[pointsal]

bingo....BTTT

[newnhdad]

time to divert media attention.

it would be nice to see if the Friends Of Angelo will come to his defense.