Washington, DC –(ENEWSPF)–October 24, 2011. The New Bottom Line – a coalition of small business, community and faith organizations – wrote President Obama, Fed Chair Bernanke, Treasury Secretary Geithner and FDIC Chair Gruenberg protesting a secretive decision to allow Bank of America’s holding company to transfer risky derivative assets from Merrill Lynch to its FDIC-insured bank.
Read the Letter: http://www.piconetwork.org/admin/documents/files/New-Bottom-Line-letter-on-BofA-exemption-to-President-Obama.pdf
The decision by the Federal Reserve once again allows a tottering financial institution to transfer…
