Bank of America CEO Ken Lewis will be testifying about his company's acquisition of Merrill Lynch this morning, and in advance of this blockbuster event the Journal has provided further details of the e-mail exchanges between the Fed and Bank of America regarding the deal back in December, exchanges that provide further evidence of noted hippie and Fed chairman Ben Bernanke's inner ballbuster.
"A Dec. 21 email from Federal Reserve Bank of Richmond President Jeffrey Lacker to Fed employees said Mr. Bernanke "intends to make it even more clear" that if Bank of America kills the Merrill deal, and later needs government assistance, "management is gone."
GONE! As in off his fucking set.
But later, Bernanke made it clear that Lewis shouldn't take it personally.
The bank sought to arrange a conversation between Messrs. Lewis and Bernanke on New Year's Eve. ... Mr. Bernanke ended the call by wishing Mr. Lewis a Happy New Year.