April 23, 2009

HMM. Here’s Andrew Cuomo’s letter on shareholders being kept in the dark during the Bank of America / Merrill Lynch merger. (Via Securities Law Prof).

UPDATE: Related: Obama demands ‘clarity and transparency’ on credit.

ANOTHER UPDATE: A New York reader emails:

Govt demanding shareholders be kept in the dark . . .was a hot topic at a *parents* meeting at my daughter’s school tonight. Moms who are, well, moms, were talking about how the crowd in Washington “is a bunch of damn socialists”. It ain’t just the finance crowd.

Interesting. There seem to be a lot of upset moms out there.

MORE: Reader Fernando Colina writes:

Upset moms are a formidable force. Salvador Allende’s government was essentially brought down by a bunch of upset mums banging pots and pans every night in the streets of Santiago. Obama may want to take notice.

I doubt he will.

STILL MORE: Various readers suggest that Colina is confusing the Allende overthrow with the Mothers of the Plaza de Mayo in Argentina. Jose Guardia emails: “I believe your reader is confusing Chile with Argentina where a government was brought down by banging. Could be Menem’s government, but I’m not sure.” I think that’s right about the Argentina bit, but I don’t think it was Menem, and I should have noticed last night, but it was late and I was tired. Sorry!

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