Bernanke To Testify Next Thursday On Bank of Amerillwide Deal

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The House Committee on Oversight and Government Reform has "invited" Ben Bernanke to come have a chat June 25. First order of business: whether or not B-nanke lubed up the Bank of America/Merrill deal by threatening harm to Lewis's employment status/kidneys unless KL did exactly as he was told (keep the Merrill losses hush hush 'til the right time, show us a smile). Presumably the Fed chair has RSVP'd that he'll be there with bells on, which is great.
And by great I mean: yet another reminder of how badly this thing was blown. Bald, Beard and Boone's all should have received invitations to discuss the situation individually and then, SURPRISE-- you're all doing this at the same time. Side by side, in the most awkward manner possible. Two hours in Lewis would've utilized the wastebasket next to the table to puke (on account of nerves associated with having Paulson sitting close enough that he could easily break all of KL's fingers with minimal effort, and a breakfast of booze). Three hours in Ang Moz would've busted through the backdoor under the misguided impression that he'd been asked to appear as a character witness. Four hours in-- anyone's guess. Instead, Bernanke will show up and remain fairly calm while the definition of the word threat is debated for half a day.


We'll watch it, of course, and write about it, probably. But it'll be done begrudgingly so. Unless someone can up with a last minute idea to spice this thing up. Opening suggestion-- more Maxine.

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