'It is really close. What I know today is if they called me again to do something again like that, I couldn’t do it. My board wouldn’t allow me'.
No kidding.
The New York Times reports that the bailouts during the financial crisis of 2008 may have been unpopular on Main Street, but they are turning out to be just as unpopular in certain corners of Wall Street, and perhaps for good reason.
Some of the strongest firms during the crisis that acquired failing banks at the behest of the government — JPMorgan Chase, Wells Fargo and Bank of America, among them — have found themselves in the cross hairs of lawsuits brought by the government for activities related to deals they made under pressure from the authorities.
Hit the links below to access the complete New York Times article:
Nowadays, Wall Street Saviors May Wish They Weren’t
The Alchemists: Three Central Bankers and a World on Fire
Hubris: How HBOS Wrecked the Best Bank in Britain
