As good as their word

The Nation
by Nicholas von Hoffman

04/28/09

The ructions in the world of finance have given us a chance to see the big-time CEOs up close at the Congressional witness table. It’s not a pretty sight. Almost without exception they appear to lack charm, warmth or wisdom, confining themselves to biz-speak cliches. As the public faces of the largest and once richest institutions in finance and banking, they are a sorry lot. The latest to appear is Bank of America CEO Ken Lewis. Documents released by New York State law enforcement authorities seemed to show that Lewis did not give the bank’s stockholders accurate information on the financial condition of Merrill Lynch before taking a vote on whether to buy the floundering brokerage house. Lewis claims that Bush’s last secretary of the Treasury, Henry Paulson, told him to keep his mouth shut when Lewis said he was thinking of reneging on the commitment to buy Merrill Lynch...

//www.thenation.com/doc/20090511/howl2


Informant: Thomas L. Knapp



//freepage.twoday.net/search?q=Paulson
//freepage.twoday.net/search?q=Treasury
//freepage.twoday.net/search?q=Bank+of+America
//freepage.twoday.net/search?q=Merrill+Lynch
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