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Caffeinated Thought of the Day: Feds Hanging Ken Lewis Out to Dry

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Theravive
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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!

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Brian Myers

Senior Contributor at Caffeinated Thoughts
Brian is a Senior Contributor at Caffeinated Thoughts and co-host of Caffeinated Thoughts Radio heard on the Truth Network 99.3 FM in Des Moines, IA. Brian owns and operates a manufacturers’ representative firm, Myers & Associates, LLC, and has been involved in sales and business management for over thirty years. He is a former member of the Board of Directors at the Des Moines Christian School. He is also a charter member of Trinity Presbyterian Reformed Church in Johnston, IA, and has been an ordained elder there since 1988.

He and his wife Debbie have been married thirty-seven years and have four children and ten grandchildren. His passions are politics, history, theology, economics, business, and basketball!

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