BY DAN FITZPATRICK AND JON HILSENRATHThe Federal Reserve is fighting a subpoena from lawyers in a civil lawsuit who want the central bank's chairman, Ben Bernanke, to testify about conversations he had with Bank of America Corp. executives before the lender completed its purchase of Merrill Lynch & Co.The three-year-old class-action suit alleges that the Charlotte, N.C., bank and Kenneth D. Lewis, then its chief executive, misled shareholders about ballooning losses at Merrill before the $19.4 billion acquisition was approved. The government provided $20 billion in U.S. aid after Bank of America officials told Mr. Bernanke and then-Treasury Secretary Henry Paulson in December 2008 ...
It should be a class action suit with about 6 billion signatures.
Ha. Ha. That's like suing any govt. dept. It's not their money. I ran into the same thing with my HOA. Hopefully, the suit would OPEN up the Fed to more scrutinty and while we're at it, audit Fort Knox.
There are currently 1 users browsing this thread. (0 members and 1 guests)