Merrill Lynch

The Slippery Slope (UPDATED; Pay Caps & GM)

THIS would be the reason why the government should not be allowed to bailout private companies and then tell them what to do, AND the reason we haven't been able to trust the government and would be fools to continue to do so. Feds threatened to oust BofA execs over Merrill deal Government regulators threatened to remove top Bank of America executives if they backed out of a buyout of failing brokerage giant Merrill Lynch, and offered to provide taxpayer funds to compensate for Merrill's poor performance, according to company records obtained by The Washington Times. The documents - e-mails…
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Hank Paulson In Front Of Congress

H/T GoldmanSachs666 Hank Paulson was a 32 year career Goldman Sachs soldier. He also ran the company as COO and CEO from 1998 through 2006 . . . the exact years that we saw the creation of toxic assets developed by his boys and girls at Goldman Sachs. He left Goldman Sachs at the peak of the bubble to take over the Treasury Secretary job so he could complete the final phase of his scheme . . . cover up, steal a few trillion more, laugh at you and the American public. Hank Paulson being questioned by Mr. Stearns (FL)…
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Still Wondering If The Federal Reserve Should Be Abolished?

On Wednesday, TurboTax Timmie and his crew are going to unveil the new financial regulation reforms that they have been talking about since he was installed as Treasury Secretary by the 111th Congress. If, after reading the next two stories, you still think the Federal Reserve should not be abolished for being the #1 instigator in our economic woes, then I pity you and your declining standard of living. Plan extends Fed's power over companies The Federal Reserve, already arguably the most powerful agency in the U.S. government, will get sweeping new authority to regulate any company whose failure could…
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The Plot Thickens; Kenneth Lewis and Congress

It never fails to amaze me that people will appear to testify under oath at a congressional hearing and try to make events seem completely different than what they are even when there is a known paper trail.  Did Lewis think that Bernanke was going to cover his behind?  I personally think there is much more to this story; whether we ever find out how much Bernanke and The Fed actually had to do with the merger of BofA and Merrill Lynch is another story completely. Watch as Rep. Dennis Kucinich, (who seems to have found his cajones), puts Kenneth…
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