Archived IMT (2009.06.24)

BERNANKE/PAULSON-GATE. The story about Bernanke threatening BoA to buy out ailing Merrill Lynch may not be new, but the latest accusations from Congressman Issa circulating memo to GOP members reinforces what has been suspected to be pressure from former Trsy Sec Paulson for BoA to overstep its directors and buy a damaged investment bank. I did it to save the financial system and the world may become the retort from the Fed and US Treasury. All in all, allegations of a central bank-led cover-up during the worst recession/bear market in 70 years is NOT WHAT THE Dr. ORDERED.