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AP: AG (Cuomo) Prepping Charges Against BofA Execs

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sabra Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-14-09 02:29 PM
Original message
AP: AG (Cuomo) Prepping Charges Against BofA Execs
Edited on Mon Sep-14-09 02:30 PM by sabra
Source: CBS News/AP

Source Says NY's Cuomo will File Civil Charges Over Failure To Disclose Merrill Lynch Losses, Bonus Payouts

(CBS/AP) Last Updated 3:10 p.m. ET

The New York Attorney General's office is preparing charges against several high-ranking Bank of America executives over the bank's alleged failure to disclose details about its acquisition of Merrill Lynch, according to a person familiar with the investigation.

Attorney General Andrew Cuomo's office is likely to file civil charges against the executives over their role in failing to alert shareholders to mounting losses as well as accelerated bonus payments at Merrill, said the person, who requested anonymity because no charges have been filed yet.

Read more: http://www.cbsnews.com/stories/2009/09/14/business/main5310509.shtml?tag=stack
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GodlessBiker Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-14-09 02:33 PM
Response to Original message
1. Bank of America sucks. This is good news.
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AndyA Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-14-09 02:40 PM
Response to Reply #1
3. I agree. Likely the worst bank ever.
Hate them, hate them, hate them.
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depakid Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-14-09 02:39 PM
Response to Original message
2. Since the Obama administration can't be bothered- it's good to know someone thinks accountability
and the rule of law's important.
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DeSwiss Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-14-09 02:44 PM
Response to Original message
4. Fine.
But they won't stop until we start sending asses to jail.

K&R
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Joanne98 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-14-09 02:44 PM
Response to Original message
5. YAY
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BR_Parkway Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-14-09 02:47 PM
Response to Original message
6. Needs to be criminal charges, they'll just pay the fines and rape the
customer for it in the end
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PHIMG Donating Member (814 posts) Send PM | Profile | Ignore Mon Sep-14-09 03:26 PM
Response to Reply #6
7. Yup "Cost of Doing Business"
Edited on Mon Sep-14-09 03:26 PM by PHIMG
They can probably find a way to write off the fines as a business expense.
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DCKit Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-14-09 09:19 PM
Response to Reply #6
8. Except it sounds as if the judge isn't going to let the bank foot the bill for this one...
on behalf of the lying, thieving execs. It's a hell of a precedent.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x4058708
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Indigent Donating Member (89 posts) Send PM | Profile | Ignore Mon Sep-14-09 09:28 PM
Response to Original message
9. Cuomo is on fire
He has been challenging the powers that be for a while now.
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No Elephants Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-15-09 04:42 PM
Response to Reply #9
14. Oops. I should have read your post before I posted.
:fistbump:
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burrowowl Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-14-09 09:29 PM
Response to Original message
10. YES! Go Cuomo!
Edited on Mon Sep-14-09 09:30 PM by burrowowl
BofA is a Cabal of Thugs!
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DebbieCDC Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-14-09 09:38 PM
Response to Original message
11. Good -- I hope the stinking MoFos rot in jail
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Myrina Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-15-09 09:33 AM
Response to Original message
12. ... until i see them pushing a broom at a regular prison for 10 cents/hr ...
.... it makes no difference what they're "charged" with or how often.
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No Elephants Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-15-09 04:40 PM
Response to Original message
13. Cuomo seems to be on fire!
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