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Bank of America fined $150 mil.

Bank of America fined $150 mil.

POSTED: Thursday, February 4, 2010 - 1:07pm

UPDATED: Thursday, April 8, 2010 - 3:25am

NEW YORK/ORLANDO, Florida - New York's attorney general charged Bank of America Corp (BAC.N), former Chief Executive Kenneth Lewis and former Chief Financial Officer Joe Price with fraud for allegedly misleading shareholders about the bank's acquisition of Merrill Lynch & Co.

Separately, the U.S. Securities and Exchange Commission said the largest U.S. bank agreed to pay a $150 million civil fine and strengthen disclosure and corporate governance to settle its two lawsuits alleging poor disclosure of Merrill's losses and bonus payouts. The accord requires court approval.

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Not for being ill, I am glad that someone made his first move to reveal the truth. For this kind of economy, corrupt persons should be out of the league especially if that certain establishment holds lots of money. It is clear that banks are out o money, would you want that someone will use his powers to have such amount of money?

Green is Universal at yahoo dot commies

They got what they deserved.

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