Wednesday, September 16, 2009
Whats real and what isn’t
Cuomo's probe has so far revealed that Federal Reserve chairman Ben Bernanke allegedly asked former Treasury Secretary Henry Paulson to threaten Bank of America (BAC, Fortune 500) CEO Ken Lewis with a change in management should Bank of America pull out of its deal to buy Merrill. BofA agreed to buy Merrill Lynch a year ago, just hours before Lehman Brothers filed for bankruptcy. The Charlotte, N.C.-based bank, which received $25 billion in bailout funds last fall, wound up needing another $20 billion in government aid to help it complete the Merrill deal.