Comments on: Bank of America’s gift to former MBNA CEO…

By: Steve in Silverton, Oregon

Steve in Silverton, Oregon — Sun, 08 Mar 2009 17:31:49 +0000

I noticed that Louis J. Freeh is listed as Vice-Chairman of MBNA. Here is a qoute from Judge Freeh’s Wikipedia bio. “Freeh began his career as an agent of the FBI, and was later an assistant United States Attorney and a United States district court judge, the position he held when appointed FBI director. He is now a lawyer and consultant in the private sector.” I think that Judge Freeh’s background more than qualifies him to be able to point out a discrepancy like this to MBNA. Makes me wonder why it has never been fixed, especially since he signed the document along with Mr. Hammond.

By: reality

reality — Sat, 07 Mar 2009 14:35:05 +0000

Bailout 2008, a poem by David Jeffrey:

Like a bloodied warrior,
laying broken and torn.

Like a dying soldier, hopeless and forlorn.

But the blood, it be green,
the color of money.

And the soldier is an economy,
and it is anything but funny.

Broken are it’s people and shattered are their dreams.

Thanks to the ultra rich and their full proof schemes.

It is a tragedy with more pain to come.

Finance will be Hell, and their wills will be done.

http://www.voicesnet.org/allpoemsoneauthor.aspx?memberid=982900010

By: Rose Meyer

Rose Meyer — Fri, 06 Mar 2009 16:46:17 +0000

Theres no incentive for any of these guys to do a good job. Failure is pretty lucrative.

By: Michelle Leder

Michelle Leder — Thu, 05 Mar 2009 02:43:38 +0000

@rfall: Not quite sure. Perhaps it wasn’t deemed to be material, though that seems hard to believe given that Hammonds was CEO. I not only searched for retention agreement, but also all agreements/exhibits where Hammonds’ name was mentioned and came up with nothing. Bottom line: there could be a plausible reason here, but I’m not coming up with any.

By: rfall

rfall — Thu, 05 Mar 2009 02:12:57 +0000

a scan of filings for both BofA and MBNA doesn’t turn up the agreement.

How is this possible, without being an actual violation of SEC regulations? Are companies allowed, routinely, to get away with referencing documents never actually filed publicly?

By: alan

alan — Tue, 03 Mar 2009 13:41:26 +0000

Maurice “Hank” Greenberg, 83, claimed in papers filed in federal court in Manhattan Monday that the company, once the world’s largest insurer, has ruined his fortune by lying about its financial health.
Will Bank of America executives follow “suite”?
Merrill?
Lehman?
BearStearns?

By: Quentin

Quentin — Tue, 03 Mar 2009 05:50:19 +0000

Wow, very nice to see that someone out there is scouring and revealing some of the horrible mismanagement of our public money. I am sure with TARP that such gifts are painfully all too common.

Great site!! Look forward to continue reading your articles!

By: Frank Graham

Frank Graham — Mon, 02 Mar 2009 16:23:02 +0000

“access to the corporate jet for 7 years post-merger, is estimated at $22.7 million”
Nice catch. Can only imagine what else is buried in the
devil’s details. But imagination, like hope & uncertainty,
does not lead to a trading plan. Thanks BAC.