April 28, 2009

BUSTING BANK OF AMERICA: “The cavalier use of brute government force has become routine, but the emerging story of how Hank Paulson and Ben Bernanke forced CEO Ken Lewis to blow up Bank of America is still shocking. It’s a case study in the ways that panicky regulators have so often botched the bailout and made the financial crisis worse.” As I’ve said before, I’m surprised that we haven’t seen shareholder suits already.

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