New York Fed Took Money From BofA In Exchange For Testifying On Behalf Of Bank, Documents Show

NY Fed Struck Shady Deal With BofA, Documents Show
In this Monday, Oct. 14, 2012, shows a Bank of America branch in downtown Miami. Bank of America said Wednesday, Oct. 17, 2012, that it narrowly turned a profit from July through September, good enough to beat Wall Street expectations. The bank earned $340 million in the most recent quarter, which works out to a fraction of a penny per share. Financial analysts expected an 11-cent loss, according to a poll by FactSet, a data provider. (AP Photo/Lynne Sladky)
In this Monday, Oct. 14, 2012, shows a Bank of America branch in downtown Miami. Bank of America said Wednesday, Oct. 17, 2012, that it narrowly turned a profit from July through September, good enough to beat Wall Street expectations. The bank earned $340 million in the most recent quarter, which works out to a fraction of a penny per share. Financial analysts expected an 11-cent loss, according to a poll by FactSet, a data provider. (AP Photo/Lynne Sladky)

TWO weeks ago, I wrote a column about a secret agreement struck in July 2012 by the Federal Reserve Bank of New York and Bank of America.

Popular in the Community

Close

What's Hot