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Wednesday, April 2, 2025

How did a private merger become a Federal bailout?

And conversely, by what authority did the Federal gov’t and the Fed interfere with BofA’s management’s responsible decision to exercise its right to call the deal off? By what authority did they coerce Ken Lewis into abandoning his fiduciary duty to his company?

H/tip Barry Ritholtz of The Big Picture

via Scribd:

BofA Merrill Lynch How Did a Private Deal Turn Into a Federal Bailout

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