The Job of the State
Sub-title - at this rate capitalism won't last much longer, comrades!
The Treasury, rightfully so, ordered Bank of America to purchase Merrill Lynch according to this article.
Henry Paulson, who was Treasury secretary last December, may have threatened to remove the management and directors of the Charlotte, North Carolina-based bank if they didn’t comply, Cuomo wrote in a letter to Congress that was released today. Lewis also was told not to disclose his opposition to the Merrill deal because of “staggering” deterioration at the brokerage, or the regulator’s action, according to Cuomo.
Finally the government is doing what it should do--telling people how to conduct good business. Comrades, we are almost there. A worker's paradise is not far away. Let's just hope this jerk Cuomo doesn't mess it up with, like, the law or that pesky constitution.