After six months of resistance, Bank of America finally gave in yesterday and agreed to disclose all of their legal documents relating to the acquisition of Merrill Lynch.
There were several attorneys general after Bank of America–to say nothing of the S.E.C.–but when the big bank finally surrendered, it was to New York Attorney General Andrew Cuomo.
Mr. Cuomo had taken the most aggressive position against the bank, threatening to charge individual executives personally, while other A.G.s simply sued the bank as a whole. It’s not the first time Mr. Cuomo has taken a personal tack: You might recall he coerced A.I.G. executives into returning bushels of bonus money back in March when he threatened to name names and reveal compensation packages.
The Times reports that BofA “held conversations” with Mr. Cuomo’s office several times in the weeks leading up to yesterday’s announcement. The bank’s letter to Mr. Cuomo–which is available on his web site–said they found an October 6 meeting “particularly constructive,” and ends by saying: “We look forward to meeting again with you and your office to discuss these issues and bring this matter to a close.
