Word: bankes
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Dates: during 2000-2009
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...Lewis got a slap on the hand. Shareholders of Bank of America (BAC) voted to separate the chairman's role from the CEO's and the bank's board was forced to elect a new chairman, Walter E. Massey, a college president who has been on the firm's board for so long that he is as responsible for the bank's trouble as anyone else involved in the company's governance...
Despite some brief humiliation, Lewis got the one things he wanted: he still runs Bank of America and has a rubber-stamp board that supports...
...tried to excuse the mistake of buying Merrill Lynch by saying that the government forced him to close the transaction. As the sitting head of a public company he should not have agreed to the request if he believed it was not in the best interests of the bank...
Lewis has also been heavily criticized for putting the bank in a financial position where it is unlikely to pass the government's bank stress test which means it will have to raise more money. Among other things, this will dilute common shareholders and may even jeopardize the value of some of the bank's bonds...
...expanded presidential power over the central bank...