Apr 23rd, 2009 - MarketWatch
SAN FRANCISCO (MarketWatch) -- The government threatened to oust Bank of America Chief Executive Ken Lewis if the giant lender didn't go through with its acquisition of struggling investment bank Merrill Lynch, according to the results of an investigation by New York Attorney General Andrew Cuomo released Thursday.
Hank Paulson, Treasury Secretary at the time, told Lewis that the management and board of directors of Bank of America may be removed if the deal wasn't closed, Cuomo said in a letter summarizing his findings to regulators and legislators.
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