Video: BofA hid leverage amd debt levels a la Lehman Repo 105 fame -- July 2010
It's a short clip, not unlike the SEC's penis.
Bank of America, admitted to hiding billions of dollars in debt, in order to meet end of quarter financial targets from 2007-2009. So Ken Lewis was in charge while the bamboozlement took place. Problem is the SEC always goes soft on criminal bankers.
Case in point, when Citigroup lied about $40 billion of subprime exposure, Schapiro and the gang that couldn't shoot straight thought $75 million was fitting punishment, and just $100k for Gary Crittenden, Citigoup's CLO (chief lying officer...).
Thankfully, Judge Ellen Segal Huvelle ruled yesterday that the SEC-Citigroup settlement was bogus and gave both sides the jurisprudent stink-eye and fat middle finger for wasting her time.
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