Paulson Changes His Story

According to CNBC, Henry Paulson has now said that the words he delivered to Ken Lewis were his own and did not come from Fed Chairman Bernanke.

So, now we know one thing for sure. He’s either lying now or he lied to Andrew Cuomo.

Update 3:25-The butt covering continues. This from Reuters:

No one at the Federal Reserve advised Bank of America chief Kenneth Lewis on any disclosure issues, Fed spokeswoman Michelle Smith said on Thursday.

“No one at the Federal Reserve advised Ken Lewis or Bank of America on any questions of disclosure,” Smith said in an e-mail responding to a question. “It has long been the Federal Reserve’s view that questions of this nature are best addressed by individual institutions and their legal counsel, as they are in a position to understand clearly their obligations and responsibilities.”

New York Attorney General Andrew Cuomo said on Thursday that Lewis was pressured by senior federal officials Henry Paulson and Ben Bernanke to accept a merger with troubled Merrill Lynch & Co or lose his job.

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