Bernanke invited to testify on Merrill deal

Discussion in 'Wall St. News' started by ASusilovic, Jun 16, 2009.

  1. WASHINGTON (MarketWatch) - A key congressional panel is inviting Federal Reserve Chairman Ben Bernanke to testify on June 25 about allegations by Bank of America Chief Executive Kenneth Lewis that government officials pressed him to buy Merrill Lynch & Co. after he became aware of major losses at the investment bank. House oversight and Government Reform Committee Chairman Ed Towns, D-N.Y., and others on the panel are seeking information about what role the Federal government played in the decision to provide Bank of America with federal aid to buy Merrill. Lawmakers last week blasted Lewis for neglecting to meet government disclosure rules by failing to provide information to shareholders about widening losses at the mega-bank's acquisition target in November, before investors voted on the deal in December

    LOL ! Good luck, Ben ! :p
  2. ipatent


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