rssPaulson to Testify on Bank of America-Merrill Lynch Deal
Monday, June 29, 2009 at 5:01 pm
- 3 Comments
Just a few days after Federal Reserve Chairman Ben Bernanke testified before House lawmakers about his role in Bank of America’s controversial buyout of Merrill Lynch, House Oversight and Government Reform Chairman Edolphus Towns (D-N.Y.) announced that former Treasury Secretary Henry Paulson will be the next official to take the hot seat.
Bank of America purchased Merrill Lynch in December, even after then-BoA CEO Ken Lewis voiced reservations that the buyout would be a bad move for BoA shareholders due to the bad financial shape of Merrill.
Lewis later told New York’s attorney general that federal officials, notably Bernanke and Paulson, had pressured him to go through with the sale. To sweeten the pot, the White House eventually put up $20 billion of Wall Street bailout dollars to catalyze the deal.
Appearing before Towns’ panel last week, Bernanke defended his role in the saga. Paulson will have his chance July 16.
3 Comments
Comment posted June 30, 2009 @ 8:34 am
What a blog filled with vital and important information this is .. It must have taken a lot of hours for you to write these yourself. Hats off from me for your hard work. Please come visit my site Endocrinology when you got time.
Comment posted June 30, 2009 @ 8:39 am
I just love it ….. well i don't have any doubt about your articles… your articles are awesome… Honestly you are simply the best.Thanks for sharing this with us. Please come visit my site Natural Gas Energy and give me any valuable feedbacks.
Comment posted July 19, 2009 @ 8:07 pm
There is another link under the category of personal finance but it has nothing to do with finance. If you have difficulties in making payment, you can click the link named wachoviabank.com. You will have an expert helping you to fix your problems and you don’t have to go out of your home to get the service. What you need to do is to choose a button between the two “call us today” and “we’ll call you”. Don’t you think this service shows the attentiveness and consideration of the Wachovia? It’s really good in my opinion.
RSS feed for comments on this post.
Sorry, the comment form is closed at this time.
