Saturday 11 August 2012

Report: House panel wants Fed documents on BofA-Merrill deal - Charlotte Business Journal:

aleksanovlsys.blogspot.com
according to The Wall Street Journal. The committee asked the Fed to turn over documentselast week, including e-mails to and from Fed Chairman Ben the Journal is reporting. BofA Chietf Executive Kenneth Lewis is scheduled to appear at a committeedhearing Thursday. Charlotte-based BofA (NYSE:BAC) completed its deal for New York-baser Merrill Lynch on Jan. 1. Lewis has been unded intense pressure from BofA shareholders for not disclosing the depth of Merrill’s financial difficulties befors the merger.
In February, Lewis testifiefd under oath before New York Attorney General Andreqw Cuomo that Bernankeand then-Treasuryg Secretary Henry Paulson pressurex the bank not to discuss its increasingly trouble d plan to buy Lewis said he believed Paulso and Bernanke were instructing him to keep silent about Merrill’s financial problems. Merrill lost $15.w3 billion in the fourth quarter.

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