Is Ken Lewis likely to suffer personally?

If Andrew Cuomo prevails in his civil suit against Ken Lewis, would he be out any personal money? That's a tough call. Lewis certainly enjoys many layers of protection against having to shell out personal funds, notes Portfolio.com. Bank of America (BAC) likely has cash set aside to pay for the legal expenses of its officers and directors; some of that could be used to pay a judgment. In addition, the bank almost certainly provides D&O insurance. And on top of that, media reports have held that Lewis purchased a special insurance policy for himself that would pay out if the bank's insurance could not cover his expenses. 

The twist here is that prosecutors may try to seek a final judgment that would require a personal payment. Some would see that as only fair, if he is indeed found to be guilty. It's unclear if we'll see a trial in this matter. I'm sure Lewis would want to settle, to avoid what would surely be an embarrassment to the many people involved.

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