Fed Flamed Bank of America CEO in E-mails, Threatened to Have Him Fired


As part of a Congressional inquiry into Bank of America's acquisition of Merrill Lynch, Representative Edolphus Townes subpoenaed Bank of America and the Federal Reserve for e-mails exchanged about the deal, and found evidence of what looks like a highbrow Internet flame war. According to the Journal:

"Fed attorneys called the bank's arguments "not credible" and a top examiner said Mr. Lewis's own position "seems somewhat suspect." The emails confirm Mr. Bernanke was willing to threaten Mr. Lewis's removal as CEO if he reneged on the Merrill deal and later sought assistance. They also suggest Fed officials had a dim view of bank management, with the Fed's top lawyer noting at one point that Mr. Lewis "can be reckless."

See, this is why we always say that if you're going to threaten someone you should do it in person, in an area that has been swept clean of recording devices. What is even the point of working for the United States government if you cannot take advantage of the CIA's infrastructure for this stuff? The full e-mails have not been released yet, but we imagine when Bernanke's whole "Don't you know who I AM? You and me, we’re fuckin’ DONE professionally" rant hits the Internet he's going to be mighty embarrassed.

Emails Show Fed Officials Critical of BofA, CEO Lewis [WSJ]