Lawmaker accuses Fed of ‘over-up’ in BofA deal
Thursday, June 25, 2009 : PermalinkReuters – The Federal Reserve sought to hide its involvement in Bank of America Corp‘s (BAC.N) acquisition of Merrill Lynch as Merrill’s financial condition worsened, the top Republican on the House Oversight and Government Reform Committee said on Wednesday.
The Fed "engaged in a cover-up and deliberately hid concerns and pertinent details regarding the merger from other federal regulatory agencies," Representative Darrell Issa said in a statement released to Reuters.
Tags: acquisition, bac, bank of america, bank of america corp, darrell issa, federal regulatory agencies, federal-reserve, government-reform-committee, house oversight and government reform committee, merger, merrill-lynch, oversight, pertinent details, republican, reuters
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