The regulatory cloud has lifted for Kenneth D. Lewis. Last week, the former head of Bank of America received a modest penalty, paid for by his former employer, and a temporary ban from an industry he is no longer a part of.
In this seminal financial crisis investigation, regulators put on a master class in how to take a strong case and render it weak.
via A Pivotal Financial Crisis Case, Ending With a Whimper – NYTimes.com.
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