Former Treasury Sec. Paulson on Merrill Lynch Merger
2009-07-17T02:35:34-04:00https://ximage.c-spanvideo.org/eyJidWNrZXQiOiJwaWN0dXJlcy5jLXNwYW52aWRlby5vcmciLCJrZXkiOiJGaWxlc1wvNTU4XC8yODc3NzAtbS5qcGciLCJlZGl0cyI6eyJyZXNpemUiOnsiZml0IjoiY292ZXIiLCJoZWlnaHQiOjUwNn19fQ==Former Treasury Secretary Henry Paulson testified about federal assistance to Bank of America and Merrill Lynch. Members often asked pointed questions and demonstrated frustration with Mr. Paulson, calling on him to account for misleading Congress to gain approval of the $700 billion financial market rescue program, investing in banks on overly generous terms, failing to help homeowners facing foreclosure, and allowing the nation to fall into economic crisis. Mr. Paulson responded that the government had to intervene in the financial system to prevent an even deeper economic crisis and that the actions he took were appropriate and helpful.
The hearing was convened as part of an investigation into the government’s efforts to secure the acquisition of Merrill Lynch by Bank of America. The companies struck a deal the previous September to merge without government aid, but only completed the deal in January after the Treasury agreed to invest $20 billion and to help limit Bank of Ameri
The hearing was convened as part of an investigation into the government’s efforts to secure the acquisition of Merrill Lynch by Bank of America. The companies struck a deal the previous September to merge without government aid, but only completed the deal in January after the Treasury agreed to invest $20 billion and to help limit Bank of Ameri
Former Treasury Secretary Henry Paulson testified about federal assistance to Bank of America and Merrill Lynch. Members often asked pointed… read more
Former Treasury Secretary Henry Paulson testified about federal assistance to Bank of America and Merrill Lynch. Members often asked pointed questions and demonstrated frustration with Mr. Paulson, calling on him to account for misleading Congress to gain approval of the $700 billion financial market rescue program, investing in banks on overly generous terms, failing to help homeowners facing foreclosure, and allowing the nation to fall into economic crisis. Mr. Paulson responded that the government had to intervene in the financial system to prevent an even deeper economic crisis and that the actions he took were appropriate and helpful.
The hearing was convened as part of an investigation into the government’s efforts to secure the acquisition of Merrill Lynch by Bank of America. The companies struck a deal the previous September to merge without government aid, but only completed the deal in January after the Treasury agreed to invest $20 billion and to help limit Bank of Ameri close
People in this video
Hosting Organization
Purchase a Download
Former Treasury Sec. Paulson on Merrill Lynch Merger
-
MP4 video - Standard
- Price:
- $9.99 or Free with MyC‑SPAN
-
MP3 audio - Standard
- Price:
- $0.99
Related Video
-
Troubled Asset Relief Program Report
Mr. Barofsky testified about the use of TARP (Troubled Asset Relief Program) funds and levels of transparency for govern…
-
Ben Bernanke on Bank of America and Merrill Lynch
Federal Reserve Chair Ben Bernanke testified at a hearing on the merger of Bank of American and Merrill Lynch. Faced wit…
-
Bank of America and Merrill Lynch Merger
Kenneth Lewis, CEO of Bank of America, testified about the events surrounding Bank of America’s acquisition of Merrill L…
-
AIG Collapse and Rescue, Liddy Testimony
American International Group (AIG) executives testified about the use of public bailout funds by the company and previou…
User Created Clips from This Video
-
- 6 minutes
- 4 views