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SUNDAY, NOVEMBER 22, 2009
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12

Cuomo Hits 5 BofA Directors With Subpoenas

Bank's board may have hid Merrill losses from shareholders

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(Newser) – Andrew Cuomo subpoenaed five members of Bank of America’s board of directors today in his probe to uncover whether the bank was truthful to shareholders about losses at Merrill Lynch, the Wall Street Journal reports. The New York Attorney General suspects that the board was fully informed of the trouble Merrill was in before a Dec. 5 shareholder vote to approve the merger, but may have kept shareholders out of the loop.

FILE - In this Dec. 11, 2008 file photo, New York Attorney General Andrew Cuomo speaks during a presentation in Albany, N.Y.
FILE - In this Dec. 11, 2008 file photo, New York Attorney General Andrew Cuomo speaks during a presentation in Albany, N.Y.   (AP Photo/Mike Groll, file)
FILE - In this Jan. 25, 2009 file photo, a Bank of America branch office is shown in New York.
FILE - In this Jan. 25, 2009 file photo, a Bank of America branch office is shown in New York.   (AP Photo/Mark Lennihan, file)
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12 comments
VIEWING:
 
Doctor_Zaius
Sep 16, 09 2:10 PM CDT
Interesting.... Reply
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+7
Reader83540439
Sep 16, 09 2:21 PM CDT
Finally making some progress against the white collar criminals who robbed the US treasury! Reply
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+7
Forderon
Sep 16, 09 4:24 PM CDT
Andrew Cuomo, the new Eliot Spitzer (in a good way)! Way to go Cuomo. Reply
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+4
IN RESPONSE:
Face-Of-RNC
Sep 17, 09 8:30 AM CDT
Ford - and for those of you who missed the story. When the Bush administration was looking for terrorist by watching banking transactions, that's when they noticed the large payments from Spitzer to his prostitute. They let the news know what they found because Spitzer had put so many of their cronies in jail. Raise your hand if you think no republican politicians were also found out in this way. Of course, those findings went unreported by the Bush administration.
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0
Reader64481089
Sep 16, 09 4:45 PM CDT
I would love to see active and strong prosecution as well as convictions on these thieves Reply
Vote up! Vote down!
+3

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