Wednesday, March 26, 2014

Ken Lewis Finally Gets His, Sort Of

It only took five years to settle this case, which stems from Bank of America's takeover of Merrill Lynch (refresher here).  Notice that Lewis pays zilch (keeping all $135 million of his deferred compensation) as shareholders pick up the legal tab.  Bloomberg's Jonathan Weil explains here why Lewis wins--and why Hank Paulson and Ben Bernanke might have been the real culprits.

Oh.  Then there is this, on the very same day:

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