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News Link • Federal Reserve

Feds Knew About Merrill Lynch Bonuses Says Court Documents in Bank of America (NYSE:BAC) Case

• American Banking News

It doesn’t come as a surprise that court documents in the Bank of America (NYSE:BAC) case alleging the institution withheld information from the government about bonuses awarded to executives at Merrill Lynch before they took them over, state in fact that Federal Reserve Chairman Ben Bernanke and former Treasury Secretary Henry Paulson were made aware of the bonuses weeks before the deal closed, contradicting statements the two made before Congress.

Now we know why the Securities Exchange Commission (SEC) wasn’t vigorously pursuing litigation against the executives at the company, knowing they were given the go ahead by Bernanke and Paulson. According to the 

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