SEC Sues Bank Of America Over Merrill Acquisition

I’ll mention this but absent any detail it’s pretty hard to offer any comments.

The SEC according to CNBC is suing Bank of America for making false and misleading statements in connection with its acquisition of Merrill Lynch. Reports are that the issue involves bonuses paid to Merrill executives.

As more information comes out, I’ll try and get it up. Suffice it to say this is going to rip open a lot of partially healed wounds. How much Paulson, Bernanke and Geithner get sucked in is anybody’s guess at this point in time.

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