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Other email messages, go through by Congressman Dennis Kucinich during the training course of Lewis' testimony, point out that Mr. Lewis had foreseen the outrage from his shareholders that the purchase of Merrill would bring about, and requested government regulators to concern a letter stating that the government had ordered him to finish the deal to acquire Merrill. Lewis, for his section, states he didn't recall requesting this kind of letter.
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The bank, in its January 16, 2009 earnings release, uncovered enormous losses at Merrill Lynch in the fourth quarter, which necessitated an infusion of money that experienced Formerly been negotiated[fifty four] with the government as Element of the government-persuaded offer with the bank to acquire Merrill. Merrill recorded an running loss of $21.5 billion while in the quarter, primarily in its gross sales great post to read and trading functions, led by Tom Montag. The financial institution also disclosed it tried to abandon the offer in December once the extent of Merrill's investing losses surfaced, but was compelled to accomplish the merger because of the U.
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