Fed emails point to BoA pressure on Merrill deal

Emails sent by Federal Reserve officials and subpoenaed by government investigators appear to back claims that Ben Bernanke pressurised Bank of America to go ahead with its takeover of investment bank Merrill Lynch after the bank attempted to back out of the deal.

Andrew Cuomo, the attorney general of New York Fed claimed in a letter dated 23 April that Ken Lewis, the chief executive and then chairman of Bank of America, had wanted to back out last December after discovering Merrill's financi

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