How Paulsen brought nine CEOs to heel

Asked by Leslie Stahl on 60 Minutes (CBS, aired tonight) why it was so important that the nine largest banks went along with U.S. Treasury Secretary Henry Paulsen’s “take it or take it” investment of taxpayer funds, Bank of America CEO Ken Lewis answered:

“If you had a bank in that group that really, really needed the capital, you don’t want to expose that bank.”

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