07
May
2009
Posted by The Mad Ape as Finance, Investing, Mad Ape Rants, Politics, Scams
Former United States Treasury Secretary Henry Paulson and current Federal Reserve Chairman Ben Bernanke are under investigation by New York Attorney General Andrew Cuomo for threatening to remove Ken Lewis, President of the Bank of America (BOA) and the entire Board of Directors if they refused to purchase Merrill Lynch late last year.
Do you understand what I am saying? These two told a private company that they had to buy another private company or they would lose their jobs. But that is the tip of the iceberg. I don’t know about Bernanke, but Paulson knew that when they were forcing BOA to buy Merrill Lynch, that Merrill Lynch had unreported losses of around $15 billion dollars. Ask yourself this…Is that not securities fraud? Why aren’t these guys in jail right now? Also ask yourself this:
Paulson, Bernanke Indictment?
- By Jonas Clark, TheVoiceMagazine.com
Does the government have power to force corporations to buy failed companies? In an account released by New York Attorney General Andrew Cuomo the former United States Treasury Secretary Henry Paulson and the Federal Reserve Chairman Ben Bernanke threatened to remove Ken Lewis, president of the Bank of America and the entire board of directors if they refused to purchase Merrill Lynch late last year….click here to read the rest of the story
All I can say is: ‘ain’t karma a bitch?’ Of course in my cynical mind I doubt that they will ever be charged and even if they were I would suspect that Obama would pardon them if they were ever found guilty.
I want to leave you with a video from Max Keiser on the Financial Armageddon that we are all facing:
Technorati Tags: Henry Paulson, Ben Bernanke, Paulson, Bernanke, Henry Paulson and Ben Bernanke Under Criminal Investigation, Criminal Investigation, Fraud, New York Attorney General Andrew Cuomo, Andrew Cuomo, Indictment, Ken Lewis, Bank of America, Merrill Lynch, Obama, Financial Armageddon
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2 Responses
Hiram
May 7th, 2009 at 8:49 am
A reminder that Paulson and Bernanke were part of the GW Bush administration, not the Obama one (which has it’s own set of classy characters).
This entire disaster underscores what American politics have become — a game of economic “musical chairs” where each administration, both Dems as well as Repubs, sets up a huge ponzi scheme so that “their” administration enjoys economic growth and prosperity while some future schmuck gets stuck when it all comes crashing down.
To those who look at the Bush years as the best we’ve ever had, the bill is now falling due.
Mad Ape, although I think you’ve gotten a little too doom-and-gloom overall, your posts still hit home every once in a while. Keep it up!
Hiram
MORE GLOOM AND DOOM - The End of America. 10 Steps To Fascism by Naomi Wolfe | Tatumba.com
May 12th, 2009 at 12:15 pm
[...] had a comment posted by Hiram on my blog last week about how I am too gloom and doom and, admittedly, he was right. But damn it, [...]
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