Ken Lewis's fatal mistake

This is right on the mark- remember that the BOA shareholders did not vote on any of this bailout crap that was force Fed (pun intended) down BOA's throat. Lewis made a deal with the devil.  The SEC and the shamelessly opportunistic Cuomo should be going after Godfathers Paulson and Bernanke for making an offer Lewis could not refuse. This case speaks volumes about what has gone rotten in our once great republic.

Thus the same government that told Mr. Lewis to keep his mouth shut and close the Merrill transaction now says he should have been more candid with shareholders. The same government that also threatened his job if Mr. Lewis didn't accept Merrill's mounting losses along with new federal money—while refusing to provide an agreement in writing because it didn't want to inform taxpayers—now questions the disclosures he made to investors. Too bad the same investigative resources will never be used to find out how financial "systemic risk" was supposed to be reduced by forcing Mr. Lewis to merge the country's largest deposit-taking bank with a failing Wall Street trading firm.

http://online.wsj.com/article/SB10001424052748704471504574447171063275730.html?mod=djemEditorialPage