On Capitol Hill, Bank of America’s acquisition of Merrill Lynch is coming under serious scrutiny. Fed Chairman Ben Bernanke is going before the committee today as lawmakers say the Fed hid some unsavory parts of the deal from other agencies in order to make the merger go through. Bank of America received billions in federal bailout funds as it struggled to absorb Merrill’s financial liabilities. For more of the story, The Takeaway talks to Peter Morici, professor of international business at the University of Maryland.
"There is always pressure present when a private company negotiates with the government."
— University of Maryland Professor Peter Morici