Wednesday, December 2, 2009

This is just good leveraging, right?

As the otherwise privileged documents in the BofA matter continue to come to light, the most salacious pieces are hitting the public sphere.

AmLaw ran an article yesterday with the clever day-to-day of how Wachtell and BofA leveraged federal aid in the Merrill acquisition. Although I am strapped for time and cannot summarize, it is important to note that apparently the federal actors were aware of BofA's strategy. Documents suggest, however, that federal actors were persuaded by the general state of the national and world economy to act.

Check it out here.

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