The plot thickens….Confirmed.. Fed Reserve Strongarmed BofA …

[DWCAP]

[quote=Allan from Fallbrook]
Now the question becomes: Will the media function as a true watchdog and bring the truth to light, or will they join Obama in a massive spin campaign to obfuscate the facts or downplay the significance of all of this?[/quote]

Hehehe, is this a real question? Cause I think we both know the answer is rather painfully obvious. Actions speak louder than words and the media has been verbally blowing Obama since the beginning. I think it was NPR that did a study that showed the media’s ‘Obama bias’. It was rather strong, far stronger than Clinton or Bush in their first few years. They arnt gonna stop now.

[Allan from Fallbrook]

[quote=DWCAP][quote=Allan from Fallbrook]
Now the question becomes: Will the media function as a true watchdog and bring the truth to light, or will they join Obama in a massive spin campaign to obfuscate the facts or downplay the significance of all of this?[/quote]

Hehehe, is this a real question? Cause I think we both know the answer is rather painfully obvious. Actions speak louder than words and the media has been verbally blowing Obama since the beginning. I think it was NPR that did a study that showed the media’s ‘Obama bias’. It was rather strong, far stronger than Clinton or Bush in their first few years. They arnt gonna stop now.

[/quote]

DWCAP: Shit, did I leave my Snark button off? Sorry. No, you’re right, it wasn’t a serious question, which is truly sad.

At what point do we, the American people, wake up and realize: WE ARE THE GOVERNMENT!

[Allan from Fallbrook]

[quote=DWCAP][quote=Allan from Fallbrook]
Now the question becomes: Will the media function as a true watchdog and bring the truth to light, or will they join Obama in a massive spin campaign to obfuscate the facts or downplay the significance of all of this?[/quote]

Hehehe, is this a real question? Cause I think we both know the answer is rather painfully obvious. Actions speak louder than words and the media has been verbally blowing Obama since the beginning. I think it was NPR that did a study that showed the media’s ‘Obama bias’. It was rather strong, far stronger than Clinton or Bush in their first few years. They arnt gonna stop now.

[/quote]

DWCAP: Shit, did I leave my Snark button off? Sorry. No, you’re right, it wasn’t a serious question, which is truly sad.

At what point do we, the American people, wake up and realize: WE ARE THE GOVERNMENT!

[Allan from Fallbrook]

[quote=DWCAP][quote=Allan from Fallbrook]
Now the question becomes: Will the media function as a true watchdog and bring the truth to light, or will they join Obama in a massive spin campaign to obfuscate the facts or downplay the significance of all of this?[/quote]

Hehehe, is this a real question? Cause I think we both know the answer is rather painfully obvious. Actions speak louder than words and the media has been verbally blowing Obama since the beginning. I think it was NPR that did a study that showed the media’s ‘Obama bias’. It was rather strong, far stronger than Clinton or Bush in their first few years. They arnt gonna stop now.

[/quote]

DWCAP: Shit, did I leave my Snark button off? Sorry. No, you’re right, it wasn’t a serious question, which is truly sad.

At what point do we, the American people, wake up and realize: WE ARE THE GOVERNMENT!

[Allan from Fallbrook]

[quote=DWCAP][quote=Allan from Fallbrook]
Now the question becomes: Will the media function as a true watchdog and bring the truth to light, or will they join Obama in a massive spin campaign to obfuscate the facts or downplay the significance of all of this?[/quote]

Hehehe, is this a real question? Cause I think we both know the answer is rather painfully obvious. Actions speak louder than words and the media has been verbally blowing Obama since the beginning. I think it was NPR that did a study that showed the media’s ‘Obama bias’. It was rather strong, far stronger than Clinton or Bush in their first few years. They arnt gonna stop now.

[/quote]

DWCAP: Shit, did I leave my Snark button off? Sorry. No, you’re right, it wasn’t a serious question, which is truly sad.

At what point do we, the American people, wake up and realize: WE ARE THE GOVERNMENT!

[Allan from Fallbrook]

[quote=DWCAP][quote=Allan from Fallbrook]
Now the question becomes: Will the media function as a true watchdog and bring the truth to light, or will they join Obama in a massive spin campaign to obfuscate the facts or downplay the significance of all of this?[/quote]

Hehehe, is this a real question? Cause I think we both know the answer is rather painfully obvious. Actions speak louder than words and the media has been verbally blowing Obama since the beginning. I think it was NPR that did a study that showed the media’s ‘Obama bias’. It was rather strong, far stronger than Clinton or Bush in their first few years. They arnt gonna stop now.

[/quote]

DWCAP: Shit, did I leave my Snark button off? Sorry. No, you’re right, it wasn’t a serious question, which is truly sad.

At what point do we, the American people, wake up and realize: WE ARE THE GOVERNMENT!

[davelj]

[quote=flu]
WASHINGTON (AP) — Congressional investigators say they have seen internal documents that prove the Federal Reserve threatened to force the ouster of Bank of America CEO Kenneth Lewis if he didn’t follow through with plans to buy Merrill Lynch & Co.

[/quote]

While I don’t support the Federal Reserve threatening bank CEOs as these emails imply… all Ken Lewis had to do was say, “No. I don’t like the deal. Fire me.”

But, alas, he apparently was more concerned about losing his job than about protecting shareholder interests. In my view, for this reason alone he should be fired. How, after all, did he manage to put the bank into a position where the Fed could strong arm him? That’s HIS (and the directors’) fault.

Here’s the bottom line, folks – and something that most bankers forget: When you accept FDIC insurance, as all banks do, the US Government is a major partner in your enterprise. If you’re uncomfortable with that, you need to find another line of work.

Ken Lewis put both his bank and his career into perilous positions in which he was susceptible to strong-arm tactics on behalf of one of his business partners (The Fed). And instead of falling on his sword, he chose to follow the keep-my-job-at-all-costs route and screw his shareholders.

Again, I’m not crazy about the Fed’s tactics in this case. But the REAL villain in this situation isn’t the Fed – it’s just a not-for-profit partner in BofA. The real villain is Ken Lewis.

[davelj]

[quote=flu]
WASHINGTON (AP) — Congressional investigators say they have seen internal documents that prove the Federal Reserve threatened to force the ouster of Bank of America CEO Kenneth Lewis if he didn’t follow through with plans to buy Merrill Lynch & Co.

[/quote]

While I don’t support the Federal Reserve threatening bank CEOs as these emails imply… all Ken Lewis had to do was say, “No. I don’t like the deal. Fire me.”

But, alas, he apparently was more concerned about losing his job than about protecting shareholder interests. In my view, for this reason alone he should be fired. How, after all, did he manage to put the bank into a position where the Fed could strong arm him? That’s HIS (and the directors’) fault.

Here’s the bottom line, folks – and something that most bankers forget: When you accept FDIC insurance, as all banks do, the US Government is a major partner in your enterprise. If you’re uncomfortable with that, you need to find another line of work.

Ken Lewis put both his bank and his career into perilous positions in which he was susceptible to strong-arm tactics on behalf of one of his business partners (The Fed). And instead of falling on his sword, he chose to follow the keep-my-job-at-all-costs route and screw his shareholders.

Again, I’m not crazy about the Fed’s tactics in this case. But the REAL villain in this situation isn’t the Fed – it’s just a not-for-profit partner in BofA. The real villain is Ken Lewis.

[davelj]

[quote=flu]
WASHINGTON (AP) — Congressional investigators say they have seen internal documents that prove the Federal Reserve threatened to force the ouster of Bank of America CEO Kenneth Lewis if he didn’t follow through with plans to buy Merrill Lynch & Co.

[/quote]

While I don’t support the Federal Reserve threatening bank CEOs as these emails imply… all Ken Lewis had to do was say, “No. I don’t like the deal. Fire me.”

But, alas, he apparently was more concerned about losing his job than about protecting shareholder interests. In my view, for this reason alone he should be fired. How, after all, did he manage to put the bank into a position where the Fed could strong arm him? That’s HIS (and the directors’) fault.

Here’s the bottom line, folks – and something that most bankers forget: When you accept FDIC insurance, as all banks do, the US Government is a major partner in your enterprise. If you’re uncomfortable with that, you need to find another line of work.

Ken Lewis put both his bank and his career into perilous positions in which he was susceptible to strong-arm tactics on behalf of one of his business partners (The Fed). And instead of falling on his sword, he chose to follow the keep-my-job-at-all-costs route and screw his shareholders.

Again, I’m not crazy about the Fed’s tactics in this case. But the REAL villain in this situation isn’t the Fed – it’s just a not-for-profit partner in BofA. The real villain is Ken Lewis.

[davelj]

[quote=flu]
WASHINGTON (AP) — Congressional investigators say they have seen internal documents that prove the Federal Reserve threatened to force the ouster of Bank of America CEO Kenneth Lewis if he didn’t follow through with plans to buy Merrill Lynch & Co.

[/quote]

While I don’t support the Federal Reserve threatening bank CEOs as these emails imply… all Ken Lewis had to do was say, “No. I don’t like the deal. Fire me.”

But, alas, he apparently was more concerned about losing his job than about protecting shareholder interests. In my view, for this reason alone he should be fired. How, after all, did he manage to put the bank into a position where the Fed could strong arm him? That’s HIS (and the directors’) fault.

Here’s the bottom line, folks – and something that most bankers forget: When you accept FDIC insurance, as all banks do, the US Government is a major partner in your enterprise. If you’re uncomfortable with that, you need to find another line of work.

Ken Lewis put both his bank and his career into perilous positions in which he was susceptible to strong-arm tactics on behalf of one of his business partners (The Fed). And instead of falling on his sword, he chose to follow the keep-my-job-at-all-costs route and screw his shareholders.

Again, I’m not crazy about the Fed’s tactics in this case. But the REAL villain in this situation isn’t the Fed – it’s just a not-for-profit partner in BofA. The real villain is Ken Lewis.

[davelj]

[quote=flu]
WASHINGTON (AP) — Congressional investigators say they have seen internal documents that prove the Federal Reserve threatened to force the ouster of Bank of America CEO Kenneth Lewis if he didn’t follow through with plans to buy Merrill Lynch & Co.

[/quote]

While I don’t support the Federal Reserve threatening bank CEOs as these emails imply… all Ken Lewis had to do was say, “No. I don’t like the deal. Fire me.”

But, alas, he apparently was more concerned about losing his job than about protecting shareholder interests. In my view, for this reason alone he should be fired. How, after all, did he manage to put the bank into a position where the Fed could strong arm him? That’s HIS (and the directors’) fault.

Here’s the bottom line, folks – and something that most bankers forget: When you accept FDIC insurance, as all banks do, the US Government is a major partner in your enterprise. If you’re uncomfortable with that, you need to find another line of work.

Ken Lewis put both his bank and his career into perilous positions in which he was susceptible to strong-arm tactics on behalf of one of his business partners (The Fed). And instead of falling on his sword, he chose to follow the keep-my-job-at-all-costs route and screw his shareholders.

Again, I’m not crazy about the Fed’s tactics in this case. But the REAL villain in this situation isn’t the Fed – it’s just a not-for-profit partner in BofA. The real villain is Ken Lewis.

[XBoxBoy]

[quote=davelj]But, alas, he apparently was more concerned about losing his job than about protecting shareholder interests. In my view, for this reason alone he should be fired. [/quote]

I second this view. I mean where is this man’s integrity? I know, I know, integrity, how quaint.

And besides, what kind of negotiator can he be if he caved on the threat of losing his job? Seriously, if the man had any ability as a real negotiator he should have said the heck with you guys. Fire me if you like. How’s that gonna look when I give an interview to the Wall Street Journal telling my side of the story. Hey, sorry, I have a responsibility to my shareholders.

As it stands now, everyone knows he’s a poor negotiator without any integrity. Lots of luck in the future with that reputation.

XboxBoy

[XBoxBoy]

[quote=davelj]But, alas, he apparently was more concerned about losing his job than about protecting shareholder interests. In my view, for this reason alone he should be fired. [/quote]

I second this view. I mean where is this man’s integrity? I know, I know, integrity, how quaint.

And besides, what kind of negotiator can he be if he caved on the threat of losing his job? Seriously, if the man had any ability as a real negotiator he should have said the heck with you guys. Fire me if you like. How’s that gonna look when I give an interview to the Wall Street Journal telling my side of the story. Hey, sorry, I have a responsibility to my shareholders.

As it stands now, everyone knows he’s a poor negotiator without any integrity. Lots of luck in the future with that reputation.

XboxBoy

[XBoxBoy]

[quote=davelj]But, alas, he apparently was more concerned about losing his job than about protecting shareholder interests. In my view, for this reason alone he should be fired. [/quote]

I second this view. I mean where is this man’s integrity? I know, I know, integrity, how quaint.

And besides, what kind of negotiator can he be if he caved on the threat of losing his job? Seriously, if the man had any ability as a real negotiator he should have said the heck with you guys. Fire me if you like. How’s that gonna look when I give an interview to the Wall Street Journal telling my side of the story. Hey, sorry, I have a responsibility to my shareholders.

As it stands now, everyone knows he’s a poor negotiator without any integrity. Lots of luck in the future with that reputation.

XboxBoy

[XBoxBoy]

[quote=davelj]But, alas, he apparently was more concerned about losing his job than about protecting shareholder interests. In my view, for this reason alone he should be fired. [/quote]

I second this view. I mean where is this man’s integrity? I know, I know, integrity, how quaint.

And besides, what kind of negotiator can he be if he caved on the threat of losing his job? Seriously, if the man had any ability as a real negotiator he should have said the heck with you guys. Fire me if you like. How’s that gonna look when I give an interview to the Wall Street Journal telling my side of the story. Hey, sorry, I have a responsibility to my shareholders.

As it stands now, everyone knows he’s a poor negotiator without any integrity. Lots of luck in the future with that reputation.

XboxBoy

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