The Wall Street Journal has an opinion piece out today that takes the U.S. government to task for the way it has handled the financial crisis -- and the way it has handled Bank of America. It's a damning piece that shows Bank of America getting pushed around by the government. The last sentence says this: "The men who nearly ruined Bank of America have some explaining to do."
From the opinion piece:
In the name of containing "systemic risk," our regulators spread it. In order to keep Mr. Lewis quiet, they all but ordered him to deceive his own shareholders. And in the name of restoring financial confidence, they have so mistreated Bank of America that bank executives everywhere have concluded that neither Treasury nor the Federal Reserve can be trusted.
Read the entire piece here.
And read the letter from the New York AG's office that details the Merrill Lynch Merger Investigation.