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| User Info | Still Looking For A Cop: Lewis in forum [Ticker] | ||||
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Genesis Posts: 71432 Incept: 2007-06-26 
KD^2 
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http://market-ticker.org/archives/998-St....
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-04-29 13:52:53
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Phantomace Posts: 2184 Incept: 2009-03-16 
Las Vegas, NV, and your screen Online
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Wondering how many shares Lewis and board members sold from their own personal holdings between the first "you will do this or else" conversation and the disclosure of how bad it really was afterward. Might be an interesting bit of info to find. ---------- "That was a little trick I call math. Oops, now I'm not emotionally invested..." - Dilbert The only good thing I have to say about Barney Frank is at least he's not breeding...
2009-04-29 13:56:45
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Mondocondo Posts: 3143 Incept: 2007-12-03 
Miami
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This gets more interesting by the day. Basically, the CEO and the Board made a unilateral decision as to what they thought was in the best interests of the company and therefore the shareholders without asking the shareholders if they agreed. Now that's an interesting theory of corporate and securities law which I don't believe has any legal precedent.
2009-04-29 14:04:00
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Wisc-xc Posts: 4828 Incept: 2007-07-14
outside chicago
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Any shoes hurled at his pie hole yet?
2009-04-29 14:06:50
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Jinxx0r Posts: 2064 Incept: 2007-08-10
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---------- "Americans grew tired of being thought of as dumb by the rest of the world, so in 2008, they went to the polls and removed all doubt" ~~ unknown http://www.youtube.com/watch?v=2x2W12A8Qow http://www.youtube.com/watch?v=4pXfHLUlZf4
2009-04-29 14:22:19
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Donethat Posts: 69 Incept: 2009-04-22
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CEO Lewis got separated from Chairman of the Board at the stockholder meeting.
2009-04-29 19:08:51
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Lms Posts: 167 Incept: 2008-09-30
Punching Bernanke in the face
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I can't believe they allowed him to remain as CEO. He admitted to concealing material information prior to the ML merger!! It is no wonder these guys think they can get away with anything - shareholders are not holding them accountable. Systemic risk costs should be borne by the government, not BofA shareholders. Was there a secret promise that the Fed would make BofA whole on the ML losses? Time to put some of these ****ers under oath.
2009-04-29 19:55:01
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Seedyrum Posts: 267 Incept: 2009-04-09
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LIKE SEN DURBIN SAID: BANKS OWN THE SENATE THE SENATE WILL ENACT SSOME LEGISLATION TO ABSOLVE LEWIS AND PAULSEN OF ANY WRONG DOING CALLED AMNESTY RETROACTIVELY>
2009-04-29 19:57:50
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Bozonian Posts: 14033 Incept: 2007-09-01
PFT - Pure F'n Tin
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Ah, the days when juvenile delinquents wore ties.
---------- I'm so depressed about outsourcing I called the suicide hotline and got a call center in Pakistan. They got all excited and asked me if I could drive a truck. Everything I write is my opinion and not to be considered proven fact. Nothing I write should be considered financial advice.
2009-04-29 23:16:46
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Mliu_01 Posts: 10631 Incept: 2007-07-15
Corona CA
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Stop looking for cops, start looking for pitchforks. ---------- A good guy gets friendship, a bad guy gets laid. J6P get the bills, Bankers get the bonus. Last modified:
2009-04-30 01:02:50 by mliu_01
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Laura Posts: 3153 Incept: 2008-05-05
Florida Space Coast
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Yep, the pitchforks and torches will arrive before the cops wake from their naps.
---------- Karl's just a shill for Big Math. 1LumpSum Honey, where's the AK ? Tyler Durden My Ford focus can get me from point A to point B just as good Tigger's Cadillac. And my back door window is not broken. Mliu
2009-04-30 01:23:16
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Blackswan Posts: 3601 Incept: 2007-11-06
Ponzi Roller Coaster
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Uh oh.. ----------
2009-04-30 02:03:15
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Snowman Posts: 1040 Incept: 2009-03-09
avoiding yellow snow
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good post from Harrison guest staring at http://www.nakedcapitalism.com/. Basically, "Bank of America's MAC clause could probably never have been invoked because it had a specific exclusion for the deteriorating prices of legacy assets on Merrill's books." Between January 20th and February 4th, Bank of America CEO Ken Lewis purchased 400,000 shares of BAC stock between the prices of $4.78 and $6.06. He currently holds over 1.4 million shares in the banking giant. Yesterday BAC closed at $8.68. In 2006 he earned $23m in 2007 he earned $20m in 2008 he earned $9m In 2008 his accumulated wealth was $111m (47 equity, 53 pension, 11 deferred comp). So the man has more money than he will ever need. getting fired is a joke for him. Getting behind bars with all personal assets confiscated, now that's a whole different story.
2009-04-30 05:28:19
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Jstanley01 Posts: 2572 Incept: 2008-07-30
San Antonio, Texas Online
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Watching the show trials and public hangings on the TV in the Mess Tent is going to be much more than just a way to pass the time in Tent City. They'll be the social events of the season.
---------- ...so in short, my fellow Texans, we must secede. "For the children..." --Me
2009-04-30 07:20:53
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Lastchance Posts: 1132 Incept: 2008-11-19 Las Vegas
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"because aborting the deal might have destabilized the financial system" I loved that line. Maybe we need to destabilize the system, just to get it over with. What would really happen if all the ATM machines didn't work for 24 or 48 hours? Panic? Riots? Some folks I know actually want that to happen just to see the consequences. Scary? Yes. But these folks bet real LARGE. Conventional betting like stocks or commodities bores them. ---------- "We don't quit. I don't quit" President Obama 1/27/10 Man, I would to have him in one of our poker games.
2009-04-30 14:52:18
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Murf Posts: 2813 Incept: 2007-08-28
the surf Online
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Lewis responding to questions about all his statements re: Merrill and Paulson UNDER OATH will be big-time entertainment.
---------- The recovery up is losing steam
2009-04-30 15:04:12
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