The New York Attorney General says that Bernanke and Paulson forced Bank of America to buy Merill Lynch:
American Public Radio interviewed the former chief accountant at the SEC, who said this was illegal and should be prosecuted:.
Reporter: If Henry Paulson and Ben Bernanke really told the CEO of Bank of America to keep quiet about losses at Merrill Lynch, they were probably breaking the law. That’s according to Lynn Turner, former chief accountant at the SEC.
Lynn Turner: If these allegations are proven true, both Bernanke and Paulson should be prosecuted by the SEC to the fullest extent of the law.
Will they be prosecuted? Or will it be yet another example of the high-and-mighty being above the law?