The Cover-Up, not the Crime

Interesting pieces, on how Federal Reserve Chairman Ben Bernanke and Goldman Sachs CEO / Treasuury Secretary Henry Paulson threatened to fire the board and manage of Bank of America, unless the Bank agreed to spend money on projects that were politically popular with the right people.

No surprise, except

Congressional hearings into these allegations were conducted on June 25, 2009, with Bernanke testifying that he did not bully Ken Lewis. Under intense questioning by members of Congress, Bernanke said, “I never said anything about firing the board and the management [of Bank of America].”

3 thoughts on “The Cover-Up, not the Crime”

  1. you’ll have to explain a little better the cnxn btwn madoff and BofA. don’t get it.

  2. The common theme is white collar criminals. In Ben Bernanke, we see one with the political connections required to avoid prosecution. In Bernie Madoff, we see one without them.

    Connections have consequences.

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