Photo credit: Vlad Lazarenko (CC-By-SA 3.0)
Ken Lewis is the former CEO of Bank of America. During the financial crisis of 2008, Lewis was involved in the disasterous acquisition by Bank of America of Merrill Lynch. He was charged with fraud in civil court for misleading shareholders about how bad their losses were. So what, you say…he had it coming, right? Well, that’s just it. The government was neck deep in what happened in this acquisition. They virtually forced Lewis to agree to buy Merrill Lynch, not letting him out of the deal when he found out just how bad of shape Merrill was in. Lewis settled in court last year for $15 million. Rich banker or not, Lewis deserved better from our government. They just hung him out to dry.
This is Brian Myers with your Caffeinated Thought of the Day.
Remember you can listen on air at 8:00a and 6:00p on Saturdays on The Truth Network 99.3 FM if you live in the Des Moines/Ames Metro area. You can also listen online live here. Also we are on iTunes!
Brian Myers
He and his wife Debbie have been married thirty-eight years and have four children and twelve grandchildren. His passions are politics, history, theology, economics, business, and basketball!
Latest posts by Brian Myers (see all)
- A tribute to Frank Brown: Running the good race. - April 4, 2018
- Pete Klindt: From Walkin’ Proud To Walking In Faith - April 19, 2017
- Random Thoughts on the Health Care Train Wreck - March 31, 2017
