Bernanke Never Threatened Bank of America

Federal Reserve Chairman Ben Bernanke has denied any wrongdoing in what appeared to be a case of corporate bullying. Bernanke was accused of going so far as to threaten Bank of America CEO Ken Lewis with punishment if he were to cancel Bank of America’s acquisition of Merrill Lynch in 2008.
However, Bernanke has admitted to a House committee that he did, in fact, talk to Lewis about the deal, but that he only warned Lewis against canceling it. Otherwise, Bernanke flatly dismissed the rest of the accusations against him in his first public comments since the House committee began its …read more