First, Representative Darrell Issa:
WASHINGTON (Reuters) – The Federal Reserve sought to hide its extensive involvement in Bank of America Corp’s acquisition of Merrill Lynch as Merrill’s financial condition worsened, the top Republican on the House Oversight and Government Reform Committee said on Wednesday.
“The committee has already learned that Ben Bernanke and the Federal Reserve made inappropriate threats to fire Bank of America management unless they went ahead with the ‘shotgun wedding’ that was the Merrill Lynch acquisition.
“The Federal Reserve also engaged in a cover-up and deliberately hid concerns and pertinent details regarding the merger from other federal regulatory agencies,” Representative Darrell Issa said in a statement released to Reuters.
Then, Cramer of all people comes out to get Bernanke’s back:
Amusing. I remember when Cramer was somewhat less than a fan.
Bill // Jun 24, 2009 at 3:57 pm
“We got a little too much democracy in this country”. LOL @ Cramer.
Toni Straka // Jun 24, 2009 at 9:01 pm
zerohedge has posted FRB emails that show Nanny Benny has bloodied his hands in that “merger.”
mr_clueless // Jun 25, 2009 at 1:31 am
Let bygones be bygones and figure out how to profit from the next scam!
Jason // Jun 25, 2009 at 9:30 am
I am glad he flipped and brought the Bernanke love, if only because it avoids putting me in the awkward position of agreeing with Cramer on anything.
100PercentProle // Jun 25, 2009 at 10:05 am
Can this be the straw that breaks the camel’s back? Surely veterans’ groups etc. aren’t going to be to happy with CNBC over this clown.