Paulson Bank Eksministar pressing av to buy America „Merrill Lynch“

Former U.S. Minister of Finance Henry Paulson acknowledged that in 2008 had pressure on the Bank to buy American av „Merrill Lynch“ forward Associated Press.

Paulson denied, however, recommended to the heads of Bank of America av to hide losses from shareholders of Merrill Lynch.

Paulson spoke before the committee of the House of Representatives (Lower House of Parliament the U.S.).

He conceded that said Kenneth Lewis, CEO of Bank America av that management of the Federal Reserve (UFR) can fire if the refuse of the deal.

Former Prime Minister pointed out that if the transaction had failed, it would affect the shareholders of the bank and a large part of the financial system.
The transaction was effected. Bank America av received state aid from 45 billion dollars to cover losses from the takeover of Merrill Lynch, recalls the AP.

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Finance / on BTA /