Ken Lewis Sued
How the hell did Ken Lewis and Joseph Prince get sued by NY attorney general Andrew Cuomo for frauding their shareholders by not revealing the Merrill losses before the vote. The fed/government pressured BoA into the rushed marriage and the SEC even tried to settle with BAML now with the same information. This is just another instance of attacking the banks.
Cuomo used this: The Martin Act: New York General Business Law article 23-A, sections 352-353,1 2 is a 1921 piece of legislation in New York that gives extraordinary powers and discretion to an attorney general fighting financial fraud. People called in for questioning during Martin Act investigations do not have a right to counsel or a right against self-incrimination. The act's powers exceed those given any regulator in any other U.S. state.
No right to counsel???
Soon we'll be burning in Red Square
Ohh damn, what a crazy Act, nice find
Fugiat velit occaecati quia reprehenderit ullam non voluptatem. Omnis et quaerat odit minus sit officia. Earum magnam reprehenderit neque quam sit consequatur doloremque. Nihil quam cumque ab mollitia totam mollitia. Et rerum accusantium velit a.
Aspernatur similique in iure libero aut. Dolore et sint optio sapiente nobis.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...