Attorney General Andrew Cuomo is shocked, shocked he tells you, to find that regulatory bullying is going on here.
A slew of documents sent by New York Attorney General Andrew Cuomo to Washington officials on Thursday detail negotiations between BofA CEO Kenneth Lewis and federal officials and demonstrate the extent to which senior officials were influencing the decisions of a public company.
Being the efficiency fans that we are here at Dealbreaker, we thought we’d save everyone a bunch of time and provide the answer to this question: Senior officials were (and are) significantly influencing “the decisions of a public company” on a daily, indeed almost continual, basis. Apparently, the irony of pointing fingers at anyone and accusing the state of wielding too much power in the present environment is lost on some of our more brusque-minded state officials.
Officials… causing firms… to act… against the interest of investors? The horror. The horror.
Cuomo Urges Probe of BofA Deal Pressure [The Wall Street Journal]
Earlier: Cuomo Corroborates Lewis’s Story