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.
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)
- Pete Klindt: From Walkin’ Proud To Walking In Faith - April 19, 2017
- Random Thoughts on the Health Care Train Wreck - March 31, 2017
- A Long Overdue Defense - February 9, 2017