The big mystery surrounding Ken Lewis

The world still doesn't have a solid answer to a pressing question, and Fortune asks it: Before the big vote, why didn't Ken Lewis disclose to Bank of America shareholders anything about the mounting losses that were plaguing Merrill Lynch? A majority vote could have ended the deal, which Lewis wanted out of at one point.

Some critics, such as Rep. Dennis Kucinich, are not satisfied with his answers so far. Documents have come to light that would suggest Lewis was quite aware of the mounting losses. He was receiving weekly reports after all. But he says it was only after the December shareholder vote that he became aware of "accelerating" losses. And only then did he starting thinking about invoking a MAC clause to exit the deal. It's all very complex. We'll see where this issue goes--lots of politics here. 

For more:
- here's the Fortune article

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