Thu, Jul 16th, 2009
A bipartisan chorus of House lawmakers on Thursday angrily accused former Treasury Secretary Henry M. Paulson Jr. of abusing power, misleading Congress and suppressing information in pressuring a reluctant Bank of America last year to go through with a takeover of Merrill Lynch.
"The American people, investors and the Congress were kept in the dark," said Edolphus Towns, the New York Democrat who chairs the House Oversight and Government Reform Committee, during a hearing to investigate the merger.
Related stories from top sites:
Bank of America, Citi Wring Profits; Regionals Beware
Jul 6th, 2009 - Wall Street Journal
NEW YORK--(Dow Jones)--Bank of America Corp. (BAC) and Citigroup Inc. (C) both managed to squeeze out second quarter profits, despite stark signs of looming heavy losses from commercial loans...
Paulson admits to threatening Lewis
Jul 6th, 2009 - POLITICO.com
Former Treasury Secretary Henry Paulson made no bones about it: He did threaten Bank of America CEO Ken Lewis when Lewis threatened to pull the plug on the Merrill Lynch merger last fall. “I further explained to him that...
US Lawmakers Spread Blame On Bank Of America/Merrill Deal
Jul 6th, 2009 - CNNMoney
WASHINGTON -(Dow Jones)- U.S. House lawmakers lambasted former TreasurySecretary Henry Paulson and Bank of America Corp. (BAC) Chief Executive KennethLewis on Thursday...
Paulson to Defend Handling of Merrill Lynch, Bank of America Merger
Jul 6th, 2009 - Washington Post
Former Treasury secretary Henry M. Paulson Jr. plans to tell a House committee tomorrow that the government acted appropriately in holding together the merger of Merrill Lynch and Bank of America...
BofA 2Q Hit By Merrill Markdowns, Provisions -Analyst
Jul 6th, 2009 - Wall Street Journal
(Adds details from analyst research and updated share price.) NEW YORK (Dow Jones)--Bank of America Corp.'s (BAC) second-quarter earnings will be weighed down by worse than expected loan losses and loss provisions...
Related videos from YouTube:
- Rep. Burton Questions Fed...6-25-09: Oversight and Government Reform Republicans ... "Jason Chaffetz" "Stephen lynch" "Darrell Issa" "Ed Towns" "Washington dc" "post office" "letter carriers" union "white house" "barack ...
- McHenry on controversial...Congressman McHenry appears on Fox Business Network to discuss the controversy surrounding the government's conduct in negotiating the merger between Bank of America and Merrill Lynch.
- Kucinich Grills Ken Lewis...Bank of America CEO, Ken Lewis, testified June 11, 2009 to congress about the BOA's merger with Merrill Lynch. During the hearing Rep. Dennis Kucinich, D-Ohio, challenged Lewis to be more ...
- Merrill's John Thain Expects...Merrill's John Thain expects thousands of job cuts after BOA takeover; Merrill's Thain expects merger with BOA to close by year-end; Thain says Merrill, BOA to be 'World's Strongest' financial firm; Analysis by John Thain, Merrill Lynch CEO
Related stories from Digg:
Bank of America CEO Apparently Misled Federal Officials
Bank of America chief executive Ken Lewis apparently misled federal officials when he asked them to cough up $20 billion to keep him from canceling the bank's merger with Merrill Lynch. Lewis told the feds that he had just learned of Merrill's spiraling losses, when in fact his bank had been following the losses throughout October and November.(Business & Finance)
nwankwoFri, Oct 23rd, 20091 Diggs, 0 CommentsBank of America E-Mail Shows Concerns Over Merrill Deal - NY
E-mail messages were handed over to government investigators as Bank of America opened a collection of documents that it had kept secret about the ill-fated merger with Merrill Lynch.(Business & Finance)
nanapatThu, Oct 15th, 20092 Diggs, 0 CommentsBank of America: End of the Lewis Era
The CEO first pledged internal growth but couldn't resist the appeal of mergers and the chance to acquire Merrill Lynch. His retirement won't clear up BofA's problems More...(Business & Finance)
fionixThu, Oct 1st, 20091 Diggs, 0 Comments
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