Bernanke says he didn't bully Bank of America to buy Merrill

(NECN: Washington) - Federal Reserve Chairman Ben Bernanke told Congress this morning that he didn't pressure Bank of America into acquiring Merrill Lynch in a deal that ultimately cost taxpayers $20 billion. Bernanke told a House committee investigating the matter that he did not threaten action against Bank of America's CEO Kenneth Lewis or the bank's board members if they decided to abandon the takeover. read more

NECN | June 25, 2009

Tags:. .necn. .takeover. .taxpayers. .bully. .merrill lynch