Ball point pen on today's newsprint Our government is just getting around to prosecuting some of the institutions that schemed to defraud government-backed mortgage agencies by churning out billions in bad loans, leaving taxpayers on the hook, triggering a world wide banking crisis, destroying the housing market and generally F-ing up the global economy. They're looking to collect at least 1 billion in penalties from Bank of America.... It's a start. ...
Read MoreBall point pen on the morning newsprint Kenneth Lewis is stepping down as CEO of Bank of America, after presiding over the paying a premium for the failing Merrill Lynch, the ill advised bonuses, two government bailouts and the evaporation of fortunes when shares of Bank of America (BAC) slipped from a high of 54.85 in 2006 to 3.14. For said stewardship he was compensated handsomely. In 2007 his compensation was valued at more than $20.4 million, 10% less for 2006. He will collect a pension worth 53.2 million dollars. ...
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