Paulson May Have Let Bank Of America Off The Hook, Says Kucinich

At a hearing on the Bank Of America-Merrill Lynch merger Thursday, Congressman Dennis Kucinich (D-Ohio) explains how Hank Paulson and Ben Bernanke were able to bailout BOA without firing it's executive board. Kucinich notes that in other similar situations, such as with the Royal Bank of Scotland, top management was dismissed as part of the terms with which to bail out the bank. Not only did Bank of America's board keep their jobs, explained Kucinch, but the company also received money from the Troubled Asset Relief Program. (0:54)
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Hank Paulson: Preventing BOA-Merrill Lynch Merger Would've Been Colossal Mistake

Bank of America CEO Ken Lewis' attempt to stop Bank of America from acquiring Merrill Lynch would have been a "colossal mistake," according to Former Treasury Secretary Hank Paulson. Paulson, who testified Thursday in front the House Oversight and Government Reform Committee, argued that Lewis's efforts, had they been successful, would have been detrimental to the economy. (0:17)
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