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According to the WSJ today, the Feds coerced BofA into completing the acquisition. The Feds initially forcibly took a large shareholder interest in the bank in October and then used this position to coerce BOfA into closing the deal.

This is gross unconstitutional abuse of government power. An appointment of a special prosecutor and major criminal investigation should be initiated. All involved should go to jail.

But it won't happen.



It won't happen because there was no criminal activity. No one forced BAC to take the government's money. Once they decided to take it, the cash came with strings.

But make no mistake, Lewis made the decisions here, not the government. Let's not pretend that BAC didn't desperately need to cash. The fact that taking it came with some conditions shouldn't surprise anyone....all loans do.
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