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Thursday, June 25, 2009

House Committee on Oversight Releases BofA Merrill Documents

by Calculated Risk on 6/25/2009 06:22:00 PM

The Committee on Oversight and Government Reform released a couple of interesting documents this afternoon.

The first document contains some Federal Reserve emails and documents.

See page 2 you will find an overview of Merrill's legacy portfolio.

How about this message from a Senior Fed Vice President on 12/20/2008 (page 8):

Some very preliminary thoughts on getting a pound of flesh out of Ken Lewis. Should we do this as part of the agreement to bail them out or just let them know we will be contacting them with a board resolution/mou in January. Your thoughts
And many other memos.

And another document of interest. There is an interesting discussion on PDF pages 11 through 16 on the financial system that was apparently prepared by the Federal Reserve staff.

There will be quiz later ...