Northwest Indiana Discussion

CEO Says Government Pressured Bank of America to Buy Merrill Lynch

06-11-2009 2:28 pm - C-SPAN
Dateline: Washington DC

"It is true that we were told that if we went through with calling a [material adverse change], the government would remove the management and board."

I believe the legal term for that is "Extortion"......

ex⋅tor⋅tion  /ɪkˈstɔrʃən/ Show Spelled Pronunciation [ik-stawr-shuhn] Show IPA
–noun

1. an act or instance of extorting.
2. Law. the crime of obtaining money or some other thing of value by the abuse of one's office or authority.
3. oppressive or illegal exaction, as of excessive price or interest: the extortions of usurers.
4. anything extorted.


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