BofA worked with Merrill on write-downs, sources say

03/20/2009 | Financial Times (free content)

Bank of America's chief accounting officer supervised the controversial asset markdowns at Merrill Lynch that were a big part of Merrill's $15.3 billion loss in the fourth quarter of 2008, sources familiar with the matter said. Bank of America sent Neil Cotty to Merrill to work with the finance team, and he supervised the preparation of accounts, the sources said.

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