04-07-2013, 05:42 PM
Gutenberg wrote:
He hasn't been indicted, but he deserves to be. Countrywide and Merrill Lynch weren't the only companies juggling the books. The only reason a bunch of those major banks are still around is the Doctrine of TBTF.
I agree that the federal government saved the big banks with loans that are being (or have already been) repaid. What would make more sense than saying we'd never do that again (because it might be the right thing to do) is to reinstate regulatory conditions more like those of the Glass Steagall era that would prevent this from happening to begin with.
I don't know what law was specifically violated by Ken Lewis that could lead him to be indicted.