Wednesday, February 4, 2009

Revealing Article In WSJ about Merrill/BAC Merger

I would think that anyone reading the article in tonight's WSJ would have to conclude that Ken Lewis and the entire Board of Directors at Bank of America must be removed.   It is clear that BAC proceeded with the shareholder vote on a 50 billion merger knowing Merrill was worthless.  Moreover, it is clear from this story that BAC withheld material information known to it prior to the shareholder vote.  It would be both negligent and irresponsible for any shareholder to vote for the current Board in the upcoming annual election. 

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