Federal Reserve SUBPOENAED ~ Karl Denninger

[peaceandlove]

Federal Reserve SUBPOENAED

Karl Denninger
Tuesday, June 9. 2009

Those arrogant pricks over at The Fed thought they could ignore a Congressional request for information on the BAC/Merrill merger.

Note that they didn't say "nuts", they apparently ignored the request.

Well, there is now a subpoena floating over toward Bernanke's office.

Here's the Bloomie article: http://www.bloomberg.com/apps/news?p...d=aRWcn.Fvrzys

Excerpt:

June 9 (Bloomberg) -- The Federal Reserve was subpoenaed by the House Oversight Committee for e-mails and documents related to Bank of America Corp.’s purchase of Merrill Lynch & Co. after the panel was unable to obtain them through a request last week.

The committee served the subpoena today, Jenny Rosenberg, a spokeswoman for the panel, said in a telephone interview. The panel is seeking the internal Fed documents for a hearing scheduled for June 11, and Bank of America Chief Executive Officer Kenneth Lewis has agreed to testify, she said.

CNBS is reporting that The Fed has said they will "respond", which may or may not mean "comply".

We shall see.

SOURCE: http://market-ticker.denninger.net/a...UBPOENAED.html