You gotta love this headline from CNBC
Paulson: Threats to Ken Lewis On Merrill Deal Were Justified
Former Treasury Secretary Henry Paulson said he was justified last year in suggesting that Bank of America’s chief executive could lose his job if the bank backed out on plans to buy troubled Merrill Lynch.
Paulson said he told Bank of America CEO Kenneth Lewis last year that reneging on his promise to purchase Merrill would show a "colossal lack of judgment."
Paulson said that "under such circumstances," the Federal Reserve would be justified in removing management at the bank.