Paukson forced Lewis to make a bad deal – a fullscale investigation into Paulsons dealings is inevitable

Paulson obviously violated many rules and agreements as he spend TARP totally different after it was approved by Congress and Senate making the political process to a charade as all the wordings which both houses fought for were obsolete. Many felt that the whole BAC / Merrill deal was strange as a huge premium was paid for a bankrupt company and I have no doubt that Goldman was doing arbitrage trades on these deal respectively out ride longs on Merrill that needs to be investigated.
In any case letting Mr Paulson of the hook is not an option he needs to be investigated and charges for felonies have to be pressed against him since Geithner as NY FED president was involved and possibly Bernanke this needs to be full fledged investigation as the Obama administration is to much contaminated with too many people doing strange things starting from Bear Stearns over Lehman etc etc.

Bank of America Pressured by U.S. to Buy Merrill, Cuomo Says

By Karen Freifeld and David Mildenberg

April 23 (Bloomberg) — Bank of America Corp. Chief Executive Officer Kenneth D. Lewis was pressured to complete the purchase of Merrill Lynch & Co. after he sought to cancel the deal because of “staggering” deterioration at the brokerage, according to New York State Attorney General Anderew Cuomo.

Henry Paulson, who was Treasury Secretary last December, may have threatened to remove the bank’s management and board if they didn’t comply, Cuomo wrote in a letter to Congress released today.


~ by behindthematrix on April 23, 2009.

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