House subpoenas Fed documents regarding Merrill takeover

06/10/2009 | Wall Street Journal, The · Bloomberg

The Federal Reserve will comply with a request from House lawmakers to turn over communication related to Bank of America's acquisition of Merrill Lynch, a representative of the central bank said. The subpoena covers e-mails and handwritten notes between Fed Chairman Ben Bernanke, former Treasury Secretary Henry Paulson and Bank of America CEO Kenneth Lewis, who was also chairman at the time of the takeover. Lewis said Bernanke and Paulson pressured him to complete the acquisition despite "significant accelerating losses" at Merrill.

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Wall Street Journal, The · Bloomberg

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