Banks--- Betting on the recovery Message Board

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Non-Tech : Banks--- Betting on the recovery

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Nov 14 9:30 AM EST

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To: tejek who wrote (417)	4/23/2009 6:04:15 PM
From: Sr K	Read Replies (2) of 1428

WSJ reports "Paulson threatened to remove Bank of America CEO Lewis and the bank's board if it backed out of its merger with Merrill, New York's Cuomo said. The Fed said Bernanke didn't advise Lewis on disclosures." Did Paulson overstep (if the statement is true)? - BUSINESS APRIL 23, 2009, 5:48 P.M. ET Cuomo Says Paulson Threatened to Oust Lewis, Board Fed Says Bernanke Didn't Advise BofA's Lewis on Disclosures By CHAD BRAY NEW YORK -- Then-U.S. Treasury Secretary Henry Paulson threatened to remove Bank of America Corp. Chief Executive Kenneth Lewis and the bank's board of directors if the bank backed out of its merger with Merrill Lynch & Co. last year, New York Attorney General Andrew Cuomo said. In a letter to members of Congress on Thursday, Mr. Cuomo said his investigation into the Charlotte, N.C.-based bank's merger has found that Mr. Paulson told Mr. Lewis on Dec. 21, 2008, that the government "could or would" replace the bank's management and its directors if the bank exited the deal. online.wsj.com

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