• 27 Mar 2014 at 2:51 PM

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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Comments (12)

  1. Posted by guest | March 27, 2014 at 3:06 PM

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

  2. Posted by guest | March 27, 2014 at 3:06 PM

    gotta be the herp.

    -j gunds

  3. Posted by GUEST | March 27, 2014 at 3:06 PM

    THIS IS AN OUTRAGE!!

    -dick bove

  4. Posted by Guest | March 27, 2014 at 3:13 PM

    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…..

  5. Posted by Guest | March 27, 2014 at 3:14 PM

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

  6. Posted by Guest | March 27, 2014 at 3:16 PM

    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.

  7. Posted by Guest | March 27, 2014 at 3:29 PM

    Wait, he's free to take it with him and I'm not?

    – Nails

  8. Posted by Everyone | March 27, 2014 at 3:50 PM

    No one misses you

  9. Posted by Gayray | March 27, 2014 at 3:54 PM

    but Everyone wants to kiss you

  10. Posted by mgiacomossi | March 27, 2014 at 4:28 PM

    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" />

  11. Posted by Hiatus | March 27, 2014 at 4:45 PM

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

    BAC is paying his fine at least.

  12. Posted by Guest | March 27, 2014 at 6:00 PM

    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