Federal Reserve chairman, Ben Bernanke is expected to testify on Thursday about allegations made by Bank of America CEO that the government put pressure on him to go forward with the Merril Lynch acquisition.
Former Treasury secretary, Henry Paulson, will appear at a hearing next month to discuss his alleged role in persuading Bank of America’s Kenneth Lewis in the Merrill Lynch deal. The date of the hearing is not yet scheduled, the New York Times reported.
Earlier this month the Government Reform Committee questioned Lewis and will question Bernanke and Paulson. Lewis maintains federal officials pressured him to keep the Merrill deal alive and acknowledged that his job would be at risk if he did not do so.