Reply #8: BofA board members subpoenaed

[ozymandius]

NEW YORK (CNNMoney.com) -- New York Attorney General Andrew Cuomo issued subpoenas to five Bank of America board members on Wednesday, as part of his investigation into the bank's purchase of Merrill Lynch a year ago, a source close to the investigation told CNN.

The names of the directors were not disclosed.

Cuomo's probe has so far revealed that Federal Reserve chairman Ben Bernanke allegedly asked former Treasury Secretary Henry Paulson to threaten Bank of America (BAC, Fortune 500) CEO Ken Lewis with a change in management should Bank of America pull out of its deal to buy Merrill.

.....

Cuomo's office has yet to take action in its investigation, although it remains possible that formal charges could be brought against the company or its executives at some point in the next few weeks.

http://money.cnn.com/2009/09/16/news/companies/bank_of_america_subpoenas/index.htm?postversion=2009091616

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Just like the SEC and BoA dust-up: This is not the America I know. It gives me the vapors to think that white collar types could be heading to prison for their deeds.