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-- -- -- Was not one of those doing the grilling today.
To give him his due though he was doing the -- back then as well democratic congress -- Genesis and its joins in on the -- And congress and that's a kind of called me about a lot of your colleagues on this here today.
Which was there raids then I mean I I I remember you having you -- and saying look this stupid idea gone from bad to worse.
Now all of a sudden.
The role newly baptized what's the deal.
Well I I looked at what we're finding out now is that by the taxpayers bailed out Bank of America.
At a time -- bad.
Beach right jewelry and the -- both knew that Bank of America.
Was not going to and they invoke this material adverse clutch hitters which essentially -- head -- Bank of America walked away with heads of billions of dollars to -- spirit got stopped -- and the real question here Leo -- why in the world.
Didn't district of fed or treasury -- the bank -- and edit it out when they knew they didn't tell the truth to their shareholders about Merrill.
Just clearly you know congress and I believe me I consider the rage about these rescues you and I'd shadow has fallen and it it got me in the lot ditto with the president Saturday at the time I think he.
You know he didn't put -- horse's head and my dad died the next step up but I just think that's a joke.
But I'm just saying what one of the things that amazes me about this whole debate here is that that was a pretty Dicey time now we can.
With two bit -- day -- say.
All right well maybe this fear that BankAmerica would follow in this financial meltdown wasn't justified but you could understand why they feared it might -- I would remember mayor Daley and his 68 to convention where you said the police are not here to.
Not preserve her not to create disorder there to preserve disorder.
What happened is that -- And the and the treasury actually help to food to create.
The very problem they -- that they were looking to avoid the systemic financial risk.
Because they didn't shorts -- -- the revelation.
Of the declining featuring little position of Merrill Lynch of the kind that the show this kind of acted -- Sure although they didn't know I mean I remember those this -- -- -- again I am not condone in any other rescues congressman.
But clearly they were what -- -- -- -- -- that it plans it was a quick and fast changing game.
Well I didn't know -- you know what from their -- -- so I look I mean you're playing fast and loose you guys were reacting fast and loose but all of a sudden to.
Sort of did gain that some sort of evil intention here is a -- threat to.
Right way to McNeil staff at the Fed and treasury had determined that mr.
Lewis nobody accelerating -- at Merrill Lynch before they show their vote to ratify the merger.
But did not provide that information -- the Shelton the doppler effect it really ridiculous and granted awkward look.
-- -- security bloc would all be with your information themselves and what I'm saying is that if -- show it had been notified in November.
What if instead of in January.
Then you would have seen that kind of panic it affected the Bank of America the Fed and treasury all came together to.
I don't know I don't know I don't congressmen and no offense you don't know I don't know all I know I don't know I don't know what you don't know because I heard a -- do you colleagues say.
Well you know you should have rescued Lehman then you set it -- somewhat Lehman I mean so that guy was doing and he did did he didn't I must ask congressman.
I -- -- can't get enough of Greg listen listen I just saying I criticized mightily this whole rescue and where we were going in and then in the states that today.
But it can't yet you can't criticize the guide for one whole day and then say you didn't -- -- now on the other ivy.
I don't know if you look like they have I don't.
And your colleagues say -- -- let Lehman go down the tanks now look what happened when you did so he was stands for -- event damned for not rescuing everybody you know.
It's about whether the shareholders.
At Bank of America had -- added he had a -- should know about the deteriorating condition male lead it was concealed from them.
I didn't know lynch who the Bank of America which all -- -- bigger -- -- insult them back mature effort caught that -- that the midterm be removed.
But there was no effort to talk about removing the management even though the management -- not disclose to the Bank of America shareholders.
All right so regardless if there weren't good at it.
Is like saying if it if we've gone back on November 22 1963.
And put a talk on and on Kennedy's brother -- -- Distributes and it it's remote point -- so let me ask you about this.
Do you do you think.
That the manager -- BankAmerica.
Should -- The management.
British -- Scottish of course they should go I don't know now Ken Lewis and company get that.
Now today that they don't have to be accountability they did not disclose their -- information that they had that would material.
To the approval of a merger.
-- you -- they got to go Bubba seat.
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