Ahead of tomorrow's House hearing starring Ken Lewis and whether or not Paulson and Bernanke told him to stay hush hush with his shareholders when it came to Merrill's losses before the deal went through, the Bank of Amerillwide CEO has stated the following in his prepared testimony:
"Treasury and Federal Reserve representatives asked us to delay any such action," Lewis, 62, said in the testimony, a copy of which was obtained by Bloomberg News yesterday. "Both the government and Bank America were aware that the global financial system was in fragile condition, and that a collapse of Merrill Lynch could hasten a crisis."
Okay. I'm trying to remain calm here but WTF?! We haven't seen the statement in full yet, but we're assuming Lewis does not in fact address the matter of, after telling Cuomo in February that it was suggested to him by Paulson and Bernanke that he keep the losses in the lock box, or else he might lose his job (and knee-caps), he told a shareholder in April that the bank's decision on Merrill was "independent of any government threat," and then added, "you have your facts wrong." Doesn't anybody notice this? Am I insane (as it relates to BAC/MER/Lewis/Paulnanke/lies/truth)? Is anyone going to ask him about this tomorrow? And is the answer going to be that the shareholder had asked "Lewis, did the conversation with Paulson go like this?"
Paulson: We believe in nothing, Lewis. Nothing. And tomorrow we come back and we cut off your chonson.Lewis: Excuse me?
Paulson: I said [shouting] We'll cut off your johnson!
...and since that wasn't how the conversation went, Lewis told him "no, you have your facts wrong," and had the guy more generally asked, "did they tell you to zip the lip or you'd be sorry," then yeah, Lewis would've said, "Yes, that's exactly what happened" like he told Cuomo and like he's going to tell the House tomorrow?
I know this is dangerous and we wouldn't ask unless we were desperate but can someone in Congress please bring this up, preferably Capuano, possibly as a duet with Maxine? Otherwise I might blow a fuse.
Posted by guest , Jun 10, 2009 11:13AM
Excellent "Big Lebowski" reference.
"I know that guy. Karl Hungus. He's a nihilist."
Posted by guest , Jun 10, 2009 11:20AM
another question: he be pre-gaming before the hearing?
Posted by guest , Jun 10, 2009 11:22AM
I say we hold up the hearing until after 11am, that way you can be sure Lewis will be really sauced up. Then let him and Maxine Waters go at it for a few hours......Hello CSPAN Ratings!!!!!
Posted by guest , Jun 10, 2009 11:23AM
Bess, it sounds like you need to get down there.
Posted by guest , Jun 10, 2009 11:26AM
@3
I am already looking forward to Maxine Waters in action tomorrow.
Between maxine waters and the 30 year auction - i am almost giddy.
Posted by guest , Jun 10, 2009 11:27AM
hold the hearing at a bar.
Posted by guest , Jun 10, 2009 11:28AM
are they going to breathalyze him first?
Posted by guest , Jun 10, 2009 11:32AM
I hope Maxine wears the Lakers jersey
Posted by guest , Jun 10, 2009 11:36AM
boones futures are bid
Posted by guest , Jun 10, 2009 11:37AM
CSPAN? This needs to go prime time baby!
Posted by guest , Jun 10, 2009 11:38AM
Going long Boones and KY
Posted by guest , Jun 10, 2009 11:46AM
That's a trick accusation Bess, and you no it. KL is too smart to flip-flop on his flip-flopping.
Posted by guest , Jun 10, 2009 11:46AM
Send in ANUS!
Posted by guest , Jun 10, 2009 11:48AM
@12- he's also too drunk to have thought anything out beforehand, hence the loose lips to the shareholder.
Posted by guest , Jun 10, 2009 11:49AM
Rebecca Jarvis is tasty.
Posted by guest , Jun 10, 2009 12:14PM
@8 FTW
Posted by guest , Jun 10, 2009 12:31PM
John Thain is Donny.
Posted by guest , Jun 10, 2009 8:40PM
Wamu TRUTH...Please Help...Wamu TRUTH...
Jamie Dimon planted "moles" in Wamu??? JPMorgan committed corporate fraud???
http://www.kccllc.net/documents/0812229/0812229090501000000000002.pdf
Wamu's claims against JPMorgan/Chase;
http://wmish.com/doc/gov/0603/JPM_V_WMI_-_ANSWER.PDF
http://wamustory.com/
http://wamuqd.com/
http://www.wamu-shareholders-resources.com/wamued.html
http://wamuequity.org/history.html