Paulson Admits to Threat

Many industry analysts and shareholders wondered what Bank of America was thinking when it went through with its acquisition of struggling financial giant Merrill Lynch. However, former Treasury Secretary Hank Paulson will admit tomorrow at a congressional hearing to informing BofA CEO Ken Lewis that he would oust the executive if Lewis did not go through with the acquisition.
 
After Paulson releases his statements concerning his actions last December that essentially forced Bank of America to absorb Merrill Lynch, Paulson will be faced with questions from committee members. Paulson, however, has expressed his confidence in his actions, stating that everything he …read more