Is Any Of Our Private Property Safe Anymore?

I hope you’ve read in the MSM by now that New York Attorney General Andrew Cuomo in a letter accused senior federal officials Henry Paulson and Ben Bernanke of forcing Ken Lewis to accept a merger with troubled Merrill Lynch & Co.

Lewis told Paulson he was going to invoke

a Material Adverse Change (MAC) clause, due to a substantial deterioration in the assets of Merrill Lynch which appear to have been covered up during merger negotiations (i.e. hidden from sight during the due diligence process), in order to either abort or substantially renegotiate the terms of the BAC/MER shotgun wedding.

Secretary Paulson then advised Lewis that, if Bank of America invoked the MAC, its management and board would be replaced”

Can you believe we’ve come this far that our federal Government can blackmail a corporation to spend its own capital in a way it does not choose? Is any of our private property safe from the government’s clutches anymore?


One Response to “Is Any Of Our Private Property Safe Anymore?”

  1. I fear if this move to Socialize all the Major Corps and Banks does not stop soon we may have a genuine revolt.

    Its a little scary that Big Brother can force these big corps and banks to kowtow so easily, We small business owners realize we are next, and we don’t have any chance of getting out of this with our property intact.

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