This will probably be good theater and solve nothing. The House Committee on Oversight and Government Reform plans to have Ken Lewis and top federal officials testify under oath about the events surrounding the acquisition of Merrill. From the WSJ: The decision to hold a hearing before members of the House Committee on Oversight and […]
Posts Tagged ‘merrill lynch’
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Now We Know Why Thain Was Smiling
Posted by Tom Lindmark on January 16th, 2009
Ken Lewis, the CEO of Bank of America, was named Banker of the Year by the American Banker in December. Today it was announced that the federal government was going to inject billions more into Bank of America to keep it alive. The ostensible reason for this bailout is that Bank of America was blindsided […]
BofA Seeks Feds Help With Merrill Acquisition
Posted by Tom Lindmark on January 14th, 2009
According to the WSJ, Bank of America, is now next in line to get more government aid. Apparently, talks have been going on with the Fed and Treasury since mid-December when BofA informed them that given the size of potential losses from its acquisition of Merrill Lynch that it might not be able to complete […]
