Network News

X My Profile
View More Activity
2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Markets Open Up

Wall Street opened up this morning as it attempts to regain momentum in the rally that began in early March.

In the first 20 minutes of trading, the Dow is up about 80 points or nearly 1 percent.

The broader S&P 500 is up just shy of 1 percent and the tech-heavy Nasdaq is up just more than 1 percent.

Bank of America chief executive Ken Lewis is the sole witness before the House Oversight committee beginning at 10 a.m., as the panel probes what role the Fed and Treasury had in coaxing Bank of America to complete its tie-up with troubled brokerage Merrill Lynch last year.

The GOP members of the panel already know what they think, after reviewing internal e-mails from the Fed and Bank of America: That Fed Chairman Ben Bernanke and former Treasury Secretary Hank Paulson "put a gun to the head" of Lewis to force him to consummate the merger, even as he was getting a look at Merrill's looming billions of losses.

Take a look at this posting The Ticker wrote yesterday, based on a document we obtained last night.

-- Frank Ahrens
Sign up to get The Ticker on Twitter

By Frank Ahrens  |  June 11, 2009; 9:51 AM ET
Categories:  The Ticker  | Tags: Dow Jones, nasdaq, s&p 500  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz   Previous: House GOP: Paulson, Bernanke 'Put a Gun to the Head' of Bank of America to Force Merrill Lynch Merger
Next: World Bank: Global Economy To Shrink 3 Percent in 2009

No comments have been posted to this entry.

The comments to this entry are closed.

 
 
RSS Feed
Subscribe to The Post

© 2010 The Washington Post Company