The New York Attorney General's office announced today that they're charging Bank of America and its former CEO Ken Lewis with fraud. The charges stem from BofA's disastrous merger with Merrill Lynch and their alleged failure to disclose important information about the deal to shareholders or the federal government.
This investigation drives right to the heart of the financial crisis and taxpayers deserve to have all the facts. Tell Bank of America to come clean with all the information surrounding the Merrill Lynch deal
If proven true, these fraud charges could expose the shady nature of the deals made behind closed doors that helped fuel our economic collapse. And they'll send a powerful message to Wall Street's CEOs: You can't expect to crash our economy, take our money, and walk away scot-free.
Stand up for transparency in the big banks - call on Bank of America to come clean with all the information surrounding these charges.
Actions have consequences. The truth matters. Let Bank of America know that taxpayers will continue to seek the truth, and we will hold them accountable for their actions.
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This investigation drives right to the heart of the financial crisis and taxpayers deserve to have all the facts. Tell Bank of America to come clean with all the information surrounding the Merrill Lynch deal
If proven true, these fraud charges could expose the shady nature of the deals made behind closed doors that helped fuel our economic collapse. And they'll send a powerful message to Wall Street's CEOs: You can't expect to crash our economy, take our money, and walk away scot-free.
Stand up for transparency in the big banks - call on Bank of America to come clean with all the information surrounding these charges.
Actions have consequences. The truth matters. Let Bank of America know that taxpayers will continue to seek the truth, and we will hold them accountable for their actions.
Attorney General Cuomo says;Sources: BusinessWeek,
"We believe the bank management understated the Merrill Lynch losses to shareholders, then they overstated their ability to terminate their agreement to secure $20 billion of TARP money, and that is just a fraud," Cuomo said at a press conference. "Bank of America and its officials defrauded the government and the taxpayers at a very difficult time."
Cuomo said Bank of America scheduled a shareholder vote to approve its plan to buy Merrill on Dec. 5, 2008. By that date, Merrill incurred losses of more than $16 billion, Cuomo said. Bank of America's management, including Lewis and Price, knew of the losses and knew that more were coming, Cuomo said.
Bank of America's response;"The decision by Mr. Cuomo to sue Bank of America, Mr. Lewis and other executives in connection with BofA's acquisition of Merrill Lynch is a badly misguided decision without support in the facts or the law," said Mary Jo White of Debevoise & Plimpton LLP in New York, who represents Lewis. "There is not a shred of objective evidence to support the allegations by the Attorney General."
SEIU.org
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If it walks like a piggy, talks like a piggy, by golly it’s a PIGGY!
BofA and it’s CEO Brian Moynihan reminds me of that song by John Lennon and George Harrison titled "Piggies" I invite you to listen to this song on youtube and see if it appropriately fits.
http://www.youtube.com/watch?v=NTmeHM-Hojg&feature=related
Have you seen the little piggies
Crawling in the dirt
And for all the little piggies
Life is getting worse
Always having dirt to play around in.
Have you seen the bigger piggies
In their starched white shirts
You will find the bigger piggies
Stirring up the dirt
Always have clean shirts to play around in.
In their ties with all their backing
They don't care what goes on around
In their eyes there's something lacking
What they need's a damn good whacking.
Everywhere there's lots of piggies
Living piggy lives
You can see them out for dinner
With their piggy wives
Clutching forks and knives to eat their bacon.
Wright vs. Bank of America Lawsuit at: unitedlawgroup.com
When I filed my lawsuit against Bank of America, myself and United Law Group thought of the many others out there in the same situation. It was then that we decided to educate the public on what these piggy banks are doing, as well as unite us all together as one voice. Please help me turn this David vs. Goliath modification process, into a Goliath vs. Goliath.
Please stand with me and United Law Group and send an email to Bank of America that states that we will no longer tolerate their potentially illegal, fraudulent, irregular and abusive business methods.
Divided we might have fell America, but united we must stand!
Please send your email directly to Bank of America and include the following:
1. Your name
2. Your complaint concerning your experience with Bank of America.
3. Please end your email “I support John Wright vs. BofA Lawsuit!”
4. Please send a copy of your email to johns-wright@hotmail.com
5. Please send your email to both BofA link below and the CEO email
BofA Linked Email:
https://www3.bankofamerica.com/contact/?lob=general&contact_returnto=&state=VA
CEO Brian Moynihan:
brian.t.moynihan@bankofamerica.com