It’s hard to get a divorce angle with this one. But I just accidentally stumbled upon this story in Barrons about how Andrew-I-wanna-be-governor Cuomo is suing Ken Lewis (former CEO of Bank of America) for fraud, for the 2008 acquisition of Merrill Lynch during the heat of the financial meltdown. Says Barrons:
Shares of Bank of America (BAC) are off 62 cents, or 4%, at $14.90 after New York State Attorney General Andrew Cuomo earlier today filed a civil lawsuit against former CEO Lewis, the bank itself, and former CFO Joe Price, alleging they intentionally hid massive losses at Merrill Lynch prior to B of A buying Merrill in the fall of 2008. Brian Moynihan, who replaced Lewis at B of A, is not under investigation, the AG’s office said.
So then, I rushed over to the Daily Intel for the real dirt and basically what it comes down to is that Ken Lewis is quoted as telling the Daily Beast “”If this thing goes to trial you can expect both Paulson and Bernanke to be on the witness list.” So what that means is these former cronies are about to become mortal enemies. These 3 Wall Street stooges, these titans, are gonna basically divorce each other. And before you know it, it’s gonna be dog eat dog. Mama mia!
Wonder if any of them needs a divorce lawyer?