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Ken Lewis saved Angelo Mozilo from doing a perp walk, and gave Merrill a sweetheart deal of century, but also took down the largest financial institution in the country and now has put the entire...
Only time will tell whether he is guilty of securities fraud. But, the reality is that someone needs to be held responsible and this guy has set himself in the right space for it.
The massive mortgage lender tries to protect itself from the stock market disaster that it caused with its earnings release 10 days ago. Things don't need to get much worse for this to spiral out...