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Tomorrow, Ken Lewis, the head of Bank of America goes in front of Congress to testify on the events leading to the Bank of America acquisition of Merrill Lynch. The lesson that he gets should be...
So here's an interesting question: how are bank profits increasing when the economy and many of the loans written by the banks are in worse shape then ever? Don't believe the numbers.
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...