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Bank Of America-Merrill Merger Hearing In Progress
As a reminder, the hearing examining the BofA-Merrill Lynch merger before the House Oversight Committee is now streaming live, and can be seen here.
The witnesses include:
Mr. Brian Moynihan
President of Consumer and Small Business Banking
Bank of America
Mr. Timothy J. Mayopoulos
Former General Counsel
Bank of America
Mr. Charles “Chad” Gifford
Member, Board of Directors
Bank of America
Mr. Thomas J. May
Member, Board of Directors
Bank of America
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It's on the homepage, if you cannot use the link:
http://oversight.house.gov/
I'm glad they're holding these informal meetings
and Washington feels no pain. It's all good.
Apparently GS ain't the only ones doing gods work.
Now one can include, BAC/MER. I bet the US taxpayers didn't know that they were getting a good deal when they provided funding and the backstop for this deal (hmmm.... one wonders about the great deal the US taxpayer got when the MER bonuses were paid out last December).
Seriously, these guys just don't get it. But then again why would they?
they will not get it until prosecutors/regulators start prosecuting vs. the settlement route.
settlements are not punishment, imprisonment is punishment.
Gifford Emails his family and tells the truth...but under oath he does the shuffle in the green shoots. Paulson should be proud the system works !!!