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Former Treasury Secretary Paulson Forced BoA to Buy ML

Thursday, July 16th, 2009
Posted in Politics by Joel Gross

The problem with enormous unchecked government power is that it is often used in a very corrupt way that hurts citizens.  According to his own admission, Former Treasury Secretary actually forced Bank of America to buy Merrill Lynch last year.  He told the CEO of Bank of America that if he didn’t go through with the deal that the government would remove the CEO and the rest of management.  Merrill Lynch has been poorly run for a long time and as both a shareholder and a banking client with Bank of America, I am angry and unhappy at this abuse of government power.