As always, AIG and Goldman appear to be leading players. In this case, multiple federal investigations centering on just what happened with AIG.
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There is blood in the water… that of Ken Lewis, and the sharks are all over it. The latest to join the dismemberment party of one Bank Of America Chief Executive Officer, is New York Representative, and Chairman of the Committee on Oversight and Government Reform, Edolphus Towns. Towns just told BofA and Lewis [...] Incompetence? Probably. Greed? Absolutely. Paulson made tens of millions off MBS. But given how deliberately opaque and complicated MBS are, it’s quite probable that few genuinely understood them. This is especially true when you get into the more exotic stuff like CDOs, CDSs, and SIVs, which is what Paulson was probably referring to. Thus, we [...] Don Corleone: Here’s my proposal. Forget about the penny-ante money in heroin, gambling, and extortion. Let’s buy some banks instead. Then we can steal billions. Ken Lewis, CEO of BofA, says he was clubbed by Hank Paulson into buying Merrill. But he forget to divulge to shareholders that Merrill had gigantic losses. But not [...] |  | ||||
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