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Paulson Justifies Threatening BofA's CEO - Political News - FOXNews.com: "'It is a threat to the foundations of our free society when government officials, acting in the midst of a crisis, use dire predictions of imminent disaster to justify their encroachment on our individual liberty and the rule of law,' said Issa.
In prepared testimony, Paulson said he told Bank of America CEO Kenneth Lewis last year that reneging on his promise to purchase Merrill would show a 'colossal lack of judgment.'
Paulson said that 'under such circumstances,' the Federal Reserve would be justified in removing management at the bank."
Thursday, July 16, 2009
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