Bernanke Could Be Forced to Resign

Either him or Paulson encouraged Lewis to commit fraud against BAC shareholders by telling him to not reveal MER losses before the shareholder vote regarding the merger

 

Once again the government, via Wall St. control, proves there is nothing free about free market capitalism. Too many knuckleheads in this country are brainwashed into thinking a damn political label makes one bit of difference. It was a seamless transition from Republican to Democrat and business as usual.

 

Gradually, the truth is revealing piece by piece. That's why John Thain said that BAC was aware of MER balance sheet.

 

This is absolutely the most interesting development I have seen lately. Cracks appearing in the armor... Question is, who goes down from this?

 

The people who ought to go "down" are long gone, with their pockets full of cash and bonuses.

 

Just incredibly OUTRAGEOUS!
Just when you thought that you had seen everything . . . this starts to show its face!

Cuomo said in the letter that there were follow-up calls with both Paulson and Bernake and with Treasury and Federal Reserve officials.

"During those meetings, the federal government officials pressured Bank of America not to seek to rescind the merger agreement," Cuomo wrote. "We do not yet have a complete picture of the Federal Reserve's role in these matters because the Federal Reserve has invoked the bank examination privilege."

wow.
:eek:

 

Since when is there any accountability for the big shots in politics and finance? I'm not holding my breath.

 

Someone has to be SHOT for this

 

We should be hopeful there will be accountability. There was in 1932. There are cracks, and the best part is that those cracks are easier to see than ever by the most people ever.

However since Wall Street does continue to own Washington, we shouldn't go back to eating nachos and watching CSI just because one guy gets fired from his post or something. The corruption is pervasive and we have to maintain that pressure.

 

Things are so messed up now that I believe we will actually see a little accountability. Not today, not tomorrow, and definitely not all the guilty but down the road - maybe this year even. There's just not enough money to float everybody - some people will be cut loose and set adrift.