Skip to main content
Message Font: Serif | Sans-Serif
No. of Recommendations: 12
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.
Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.