Scrutiny of Bank of America's Merrill purchase intensifies

By Christina Rexrode | The Charlotte Observer

Lawmakers blitzed Bank of America chief executive Ken Lewis on Thursday about why he didn't alert shareholders to the deepening troubles behind his deal to buy Merrill Lynch and about whether he tried to pass blame to regulators.

Critics on the House panel said Lewis was trying to play the victim, blaming the government for making him take on a company with mounting losses that he tried to abandon. But Lewis also had supporters on the panel, who tried to cajole him into laying more of the blame on the government.