Former Treasury secretary Hank Paulson is due to testify in front of the House Committee on Oversight and Government Reform tomorrow, where he will answer, among other things, questions about whether he inappropriately threatened to oust Bank of America CEO Ken Lewis for trying to scuttle his company’s deal to buy the ailing Merrill Lynch last December. Paulson’s response, according to his prepared remarks obtained by the Journal? Yeah, he threatened Lewis. And he doesn’t regret it for a minute.
“In other words, I said, see this fish I’m holding here, Ken? That’s what’s going to happen to you if you don’t go through with this deal. Sleep on it, okay?”