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The Bottomless Headache

Date: August 3, 2009
Author: Zachery Kouwe
QUOTE: The $50 billion merger, completed at the behest of federal officials, has been the subject of heated hearings in Congress, as has the question of who knew what and when about the Merrill bonuses. The payments were made despite mounting losses that soon forced Bank of America to seek a second lifeline from Washington. Bank of America will pay $33 million to settle the S.E.C.’s claims, without admitting or denying the accusations, but the agreement is unlikely to put to rest questions swirling around Bank of America and its leadership.

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