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Paulson says told BofA's Lewis Fed could oust him

Former Treasury Secretary Henry Paulson says in prepared congressional testimony that he told Bank of America Chief Executive Kenneth Lewis the Federal Reserve could oust the bank's management and board if they walked away from a planned merger with Merrill Lynch.

Paulson also said in testimony prepared for delivery to the House Oversight and Government Reform panel on Thursday that he was never instructed by Fed Chairman Ben Bernanke to indicate to Lewis any actions the Fed might take.


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sounds like something out of a Godfather movie

"make him an offer he can't refuse"

meekandmild's picture

No Bernanke, so another Fed official?

"that he was never instructed by Fed Chairman Ben Bernanke"

So advised by another Fed employee? Bernanke is PYOA?

Color me shocked and amazed


There's really no reason why we shouldn't Audit the Fed, is there .......

That's what I call mainstream extortion, an implicit act of theft committed by Paulson by shaking down another bank he didn't agree with.. can be little doubt that's a tip of the iceberg. Time for the Media to go into their spin doctor mode, for we will win this information war against the Private Cartel called The Federal Reserve....


Why would Paulson admit to something like that?

Very fishy. Paulson is admitting to fraud. The Fed must've given him a little private message.


Is he the fall guy?

If so, couldn't have happened to a more deserving guy...


Freedom - Peace - Prosperity

No... He's too big to fail.

He's too big to fail.