Bank of America may be trying to save face by saying they are going to waive attorney client privilege, but they know — and we know — that they waived the privilege back when they claimed reliance on advice of counsel to the SEC.
|By: Cynthia Kouril Thursday October 15, 2009 7:22 pm|
|By: Tula Connell Sunday September 21, 2008 2:00 pm|
For most of us (John McCain excepted), the collapse of Lehman Brothers, Fannie Mae, Freddie Mac, Bear Stearns, Merrill Lynch, AIG (and others no doubt yet to come), is a clear sign something major has gone wrong with our financial system.
One of the main culprits in this debacle is the deregulation of the financial industry—which happened in large part through the efforts of McCain economic adviser Phil Gramm, who as senator, pushed through legislation allowing institutions to combine commercial banking and investment services.