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Paulson and Bernanke on Ken Lewis' Witness List

Ken Lewis
Ben Bernanke
Hank Paulson

Thursday, February 4, 2010

To defend himself against today’s civil fraud charges, former Bank of America CEO Ken Lewis plans to call Henry Paulson and Ben Bernanke to the stand

In defending former Bank of America CEO Ken Lewis against charges that he misled investors, his lawyers will call as witnesses former Treasury Secretary Hank Paulson and the current Federal Reserve Chairman Ben Bernanke, according to people close to the matter. The defense team, led by former U.S. Attorney Mary Jo White, hopes to get Paulson and Bernanke to reveal that Lewis did not mislead the government about BofA's deteriorating financial condition in the aftermath of its Merrill Lynch deal. Those losses prompted a massive government bailout.

Full article [The Daily Beast]
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Links:

Bank Chairman Describes Fed's Strong-Arm Tactics [HPI]

Fed and Treasury Threatened BoA’s Management [HPI]