Tonight’s Frontline episode, Breaking the Bank, focused on the details of the Bank of America – Merrill Lynch merger and the government’s actions during the initial days of the financial crisis. If you’ve followed the details of the bank mergers and/or the TARP money you will find this video extremely enlightening.
The show includes in-depth interviews of high-profile players Ken Lewis, CEO and President of Bank of America, and John Thain, former Merrill Lynch CEO. It discusses the pressure to merge the two companies, and the role of then-Secretary of the Treasury Henry Paulson in coercing CEOs to accept TARP money in an effort to quell the financial market distress.
If you missed tonight’s episode you can watch it online here or through the video below.