Getting your player ready...
WASHINGTON — Top economic advisers to President Barack Obama signed off on a deal to protect Bank of America from losses incurred by its purchase of failed Wall Street firm Merrill Lynch a month before the new administration took office, according to BofA documents.
The documents, describing internal discussions in late 2008, assert that executives were told that incoming National Economic Council Director Lawrence Summers and incoming Treasury Secretary Timothy Geithner had endorsed the deal to provide new guarantees.
