Being Pressured!

The office of New York’s Attorney General Andrew Cuomo has stated that CEO Ken Lewis of Bank of America testified that he was pressured to purchase Merrill Lynch. Mr. Lewis stated that Treasury Secretary Henry Paulson and Fed Chairman Ben Bernanke had both threatened to oust his management team if he didn’t play along with buy Merrill Lynch. And you know what, it’s probably true, who in their right mind would by a losing company like Merrill Lynch. Merrill Lynch today is still dragging Bank of America down. The company should have fallen into bankruptcy. But the problem is ex-Treasury Secretary Henry Paulson, who has ties to Merrill Lynch. I thought in the past that Paulson really cared about what is was doing, but not the case anymore, he’s a crock and should go to jail. I’ve read a few articles about how he was basically saving his own investment with helping the fat cats on Wall Street. But the bigger problem is that nothing will ever happen to him. He threatens a publicly traded company to do something they didn’t want to and he’s going to get away with it. And Fed Chairman Ben Bernanke should step down now before this miss grows. What they did was wrong, and they should pay for it. I hope New York Attorney General Andrew Cuomo doesn’t let this fall to the waist side. I don’t think he will let that happen, but who knows what going to happen behind close doors.