Krugerrand
07-16-2009, 09:04 AM
http://news.yahoo.com/s/ap/20090716/ap_on_go_co/us_paulson_bank_of_america
Former Treasury Secretary Henry Paulson says he pressured Bank of America last year to go through with its plans to buy Merrill Lynch but didn't tell the bank's chief to hide losses from shareholders.
In testimony Thursday before the House Oversight and Government Reform Committee, Paulson said he told Bank of America Corp. CEO Kenneth Lewis that the Federal Reserve could fire him if he backed out on the deal.
And he acts like that's okay.
Former Treasury Secretary Henry Paulson says he pressured Bank of America last year to go through with its plans to buy Merrill Lynch but didn't tell the bank's chief to hide losses from shareholders.
In testimony Thursday before the House Oversight and Government Reform Committee, Paulson said he told Bank of America Corp. CEO Kenneth Lewis that the Federal Reserve could fire him if he backed out on the deal.
And he acts like that's okay.