April 24, 2009
The BofA Deal
The transcript of Paulson threatening the job of CEO Lewis if he does not close the Merrill Lynch deal has re-ignited the fuse on whether, in particular, the government overplayed its hand in forcing the merger and on whether, in general, the government is simply exercising too much power over the financial industry and others. The answer to both questions is affirmative. Private industry leaders need to grow tougher back-bones and stand up to these threats. Private lawyer should investigate whether they can sue government officials for economic torts under the Federal Tort Claims Act.
April 24, 2009 | Permalink
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"Private lawyer should investigate whether they can sue government officials for economic torts under the Federal Tort Claims Act."
And exactly who would benefit from this? The current shareholders of BofA? The shareholders on the date of the merger? The shareholders on the date that the forced merger was announced? No, the private lawyers.
Posted by: Business Attorney | Apr 24, 2009 8:28:46 PM