Secret Sanction on BofA
futureofcapitalism.com

The Wall Street Journal has a news article on Bank of America's desire to win release from "a secret U.S. sanction imposed during the financial crisis."

Since Bank of America is a publicly traded company, aren't regulators and bank management depriving the investing public of material information by keeping this memorandum of understanding "confidential"?

The Journal says: "The Charlotte, N.C., lender, for example, isn't allowed to raise its dividend as long as the memorandum hasn't been lifted, said people familiar with the agreement."

Maybe I'm missing something here, but isn't a government memorandum preventing the dividend from being raised something that potential investors would not want to be "secret"?

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Secret Sanction on BofA
futureofcapitalism.com

The Wall Street Journal has a news article on Bank of America's desire to win release from "a secret U.S. sanction imposed during the financial crisis."

Since Bank of America is a publicly traded company, aren't regulators and bank management depriving the investing public of material information by keeping this memorandum of understanding "confidential"?

The Journal says: "The Charlotte, N.C., lender, for example, isn't allowed to raise its dividend as long as the memorandum hasn't been lifted, said people familiar with the agreement."

Maybe I'm missing something here, but isn't a government memorandum preventing the dividend from being raised something that potential investors would not want to be "secret"?

Read More...