Bernanke responds to claims of Merrill cover-up

Ben Bernanke, the chairman of the Federal Reserve, on Thursday claimed that the central bank had acted "with the highest integrity" in discussions with Bank of America over its takeover of Merrill Lynch, a now defunct investment bank.

Bernanke has been accused of forcing Bank of America to buy Merrill after the bank tried to exit the deal through the invocation of the Material Adverse Change clause (MAC) in the acquisition contract.

The chairman confirmed in testimony to lawmakers on Wednesday

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.