10/8/12

If former Bank of America CEO Ken Lewis knew about secret Federal Reserve loans in 2008 and 2009, how did he not receive BAC without knowing inside information, and how did Price Waterhouse Coopers, who certified Mitt Romney's prior year's tax returns?


"In November 2008, while still CEO of Bank of America,
a time when BoA had had to borrow $86 billion from the Fed,
Lewis wrote to shareholders saying that he was at the helm of
"one of the strongest and most stable banks in the world".

...In 2008, ...Kenneth D. Lewis...earned a total compensation of $9,003,467,
which included a base salary of $1,500,000,
stocks granted of $4,255,012,
and options granted of $2,973,330."

Wikipedia

Insider Trading

"Insider trading" is a term that most investors have heard
and usually associate with illegal conduct.

...Illegal insider trading refers generally to buying or selling a security,
in breach of a fiduciary duty or other relationship of trust and confidence,
while in possession of material, nonpublic information about the security.

...Examples of insider trading cases that have been brought by the SEC are cases against:

...Government employees who learned of such information
because of their employment by the government; and

Other persons who misappropriated, and took advantage of,
confidential information from their employers.

Because insider trading undermines investor confidence
in the fairness and integrity of the securities markets,
the SEC has treated the detection and prosecution of insider trading violations
as one of its enforcement priorities.

http://www.sec.gov/answers/insider.htm



2009-02-15 Lewis Kenneth D (Chairman CEO and Pres) Option Exercise
2009-02-04 Lewis Kenneth D (Chairman CEO and Pres) Purchase  
2009-01-20 Lewis Kenneth D (Chairman CEO and Pres) Purchase  
2009-01-01 Thain John A (Pres Glbl Bkg Sec & Wlth Mgmt) Option Exercise  
2008-11-04 Lewis Kenneth D (Chairman CEO and Pres) Purchase  
2008-10-01 Brinkley Amy Woods (Global Risk Executive) Sale
2008-10-01 Brinkley Amy Woods (Global Risk Executive) Option Exercise  
2008-09-19 Hammonds Bruce L (President, Global Card Svcs) Sale
2008-09-19 Hammonds Bruce L (President, Global Card Svcs) Option Exercise



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