Investigators say the Fed threatened bank CEO

Investigators say the Fed threatened bank CEO

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WASHINGTON (AP) -- Congressional investigators say they have seen internal documents that prove the Federal Reserve threatened to force the ouster of Bank of America CEO Kenneth Lewis if he didn't follow through with plans to buy Merrill Lynch & Co.

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Related News Links:
www.abovetopsecret.com

Who runs the government? Looks like the big boys who actually call the shots are crafting up the economy how they want to see it run. So now the government can force you to buy something you do not want?

That kinda of reminds me of the compulsory health insurance law they are trying to pass. See thread link for more on the insurance law. Makes me wonder if the fed isn't the one pushing for it as well. After all the banks are now tied to the insurance companies.

hosted.ap.org
(visit the link for the full news article)

CEO: Government pushed bank to buy Merrill Lynch

WASHINGTON (AP) -- House lawmakers on Thursday accused federal regulators of a gross misuse of power in orchestrating a "shotgun wedding" between Bank of America Corp. and Merrill Lynch & Co. that cost U.S. taxpayers $20 billion.

Here is another link furthering the story on the MSM. I find this to be a great injustice and a total disreguard for a capitalist system. This is blatant tampering with capitalism, which by the way is suposed to be illegal.

Thugs! Just plain thugs. The Fed has used extorsion tactics before, to meet their ends. This behavior is exactly why we need an audit of the Fed. What other illegal activity have they been involved in?

reply to post by daddyroo45


Enough illegal activity that it would cause them to no longer have public support if it is uncovered, I suspect. For a system that is supposed to be a part of our government, they sure do have way to much authority and freedom from investigations.

I hope people can understand what went down here, and how the tactics of extortion usually used by criminals was used by government officials to gain control over banks.

Billions of taxpayer funds were used along with a climate of fear and intimidation to get a desired result?

Sounds like a plot for a mafia movie!

From the article:

The House Oversight and Government Reform Committee is investigating claims that the then Treasury Secretary Henry Paulson and Fed Chairman Ben Bernanke put pressure on Mr Lewis to close the deal, despite Merrill's financial difficulties.

Lewis denies it, but if the allegations are true and he admitted that he was pressured he could have even more worries?

You don't mess with this government, you will not get in the way of their agenda, you are powerless against their supreme power over you and you can't match their ability to spend money.

The Mob rules!

Washington?

Meanwhile over at Government Motors and Chrysler....

reply to post by LeaderOfProgress


The FED isn't a goverment body at all, they are above the law.

reply to post by theuhstuf


Oh I very well know that they are a privat entity. It's the fact that most people think this way. In fact if the president were to tell the public that it is a private entity, they would think nothing of it. Now if the public finds out that it is a private entity and that it is involved in extortion then there will be a massive outcry.

Good find, star and flagged.

The Feds should be abolished completely, and those who have misused their power should be prosecuted.

People don't forget that the federal Reserve is a very powerful banking cartel is not the government the one running the fed is the fed running the government and telling CEOs of banking institutions how to do business.

Remember the are just using their influences, I bet that Mr. Lewis got very well rewarded for his troubles, so don't feel any Pity for him, he is just a fat rat like the rest.