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Ken Lewis To Continue Cooling His Heels For A While

Bank of America Corp. and former Chief Executive Kenneth Lewis took big steps to put the financial crisis behind them by paying state and federal agencies to settle lawsuits over the acquisitions of Countrywide Financial Corp. and Merrill Lynch & Co…Mr. Lewis agreed to pay $10 million and accept a three-year ban from work at any public company as part of the New York settlement. Bank of America will cover Mr. Lewis’s penalty, according to people familiar with the deal. Mr. Lewis neither admitted nor denied wrongdoing. [WSJ]

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12 Responses to “Ken Lewis To Continue Cooling His Heels For A While”

  1. guest says:

    have we ever solved the mystery of wtf is on his upper lip?

  2. GUEST says:

    THIS IS AN OUTRAGE!!

    -dick bove

  3. Guest says:

    from reuters:
    "Nonetheless, the settlement with Lewis, who has kept a low public profile since leaving Bank of America, would mark one of the rare times that an executive at a major U.S. bank has been held legally responsible in a case alleging wrongful conduct linked to the 2008 global financial crisis."

    Oh wow. They really got him. That should quell all the critics who say bank ceos weren't held responsible for the crash…..

  4. Guest says:

    and John Thain roams free to use his $35000 toilet?

  5. Guest says:

    As much as it may be fun to take the piss out of Ken Lewis, it is pretty unfair that they nabbed him when he was forced to save Merrills/Countrywide.

    • Hiatus says:

      No shit saving merril was more or less vital at that point.

      BAC is paying his fine at least.

  6. Everyone says:

    No one misses you

  7. mgiacomossi says:

    There are a lot of fun things to do in this free time.<img src="http://s04.flagcounter.com/mini/mHX/bg_FFFFFF/txt_E3E3E3/border_FFFFFF/flags_1/&quot; height="1" width="1" />

  8. Guest says:

    We're pleased to announce that today's action will not affect Mr. Lewis' position as President of our Boone's Farm division. His strong leadership continues to propel this brand to new heights.

    Ernest & Julio