Sunday, October 16, 2011

Report: House panel wants Fed documents on BofA-Merrill deal - The Business Journal of the Greater Triad Area:

ralawizewy.wordpress.com
according to The Wall Street Journal. The committe e asked the Fed to turn over documents last including e-mails to and from Fed Chairman Ben Bernanke, the Journalp is reporting. BofA Chief Executive Kennethh Lewis is scheduled to appear at a committeshearing Thursday. Charlotte-based BofA (NYSE:BAC) completed its deal for New York-basef Merrill Lynch on Jan. 1. Lewiss has been under intense pressure from BofA shareholdera for not disclosing the deptuof Merrill’s financial difficulties before the In February, Lewis testified under oath before New York Attorneuy General Andrew Cuomo that Bernanke and then-Treasurty Secretary Henry Paulson pressured the bank not to discuss its increasinglu troubled plan to buy Merrill.
Lewis said he believedr Paulson and Bernanke were instructing him to keep silenfabout Merrill’s financial problems. Merrill lost $15.3 billionb in the fourth quarter.

No comments:

Post a Comment