Opening Bell: 06.25.09

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Fed Emails Bash BofA Chief In Tussle Over Merrill Deal (WSJ)
Earlier that day, Mr. Bernanke had weighed in on the threat to pull out of the Merrill deal: "I think the threat to use the MAC is a bargaining chip, and we do not see it as a very likely scenario at all," he wrote in a Dec. 21 email to a selection of Fed governors.
He also urged preparations be made "so that we can explain to [Bank of America] with some confidence why we think it would be a foolish move and why regulators will not condone it."
New TARP Chief: Economy on Mend, But Vigilance Needed (Reuters)
"I'm confident that very soon we'll be launching [public-private] partnerships," Allison said. "Some time between now and 100 years from now."
AIG To Repay Debt Through IPOs (WSJ)
$25 billion down, $25 trillion to go.

Cuomo Recused Himself Over Money Manager in Pension Fund Probe
(Bloomberg)
A paragon of virtue and ethics!

AQR hedging its bets with big mutual fund plan
(Reuters)
"We don't want to be theoretical academics. We want to be the guys who demystify alternative (investments) and tell people what's under the wizard's hat," co-founder David Kabiller said.
Read e-mails between Sanford, woman (The State)
"Since our first meeting there in a wind swept somewhat open air dance spot in Punta del Este, I felt that you had that same rare attribute. Above all else I love that inner beauty about you...You have a particular grace and calm that I adore. You have a level of sophistication that is so fitting with your beauty. I could digress and say that you have the ability to give magnificently gentle kisses, or that I love your tan lines or that I love the curves of your hips, the erotic beauty of you holding yourself (or two magnificent parts of yourself) in the faded glow of night's light -- but hey, that would be going into the sexual details we spoke of at the steakhouse at dinner -- and unlike you I would never do that!"

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