Tuesday, December 9, 2008
Bank of America Does Not Look Too Bad After All: Illinois Governor Tries to Sell Obama's Senate Seat
Yesterday, Illinois Senator Rob Blagojevich threatened to ban Bank of America from conducting business with the State of Illinois unless it reinstated credit for Republic Windows and Doors, an insolvent company at the center of a labor dispute. I wondered whether the governor's action was too heavy handed and even legal. Today, CBS News reports that he was arrested for various acts of corruption, including attempting to profit from his authority to name a person to take over Obama's vacant Senate seat. I will not comment further because I believe in the presumption of innocence.