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 Wednesda