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Ken Lewis, who had lost the title of Chairman from the Board, announced that he would retire as CEO productive December 31, 2009, partly because of controversy and authorized investigations concerning the obtain of Merrill Lynch.
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Bank of America CEO Kenneth Lewis testified just before Congress[63] that he experienced some misgivings concerning the acquisition of Merrill Lynch and that federal Formal pressured him to continue Along with the offer or face dropping his task and endangering the bank's romance with federal regulators.[64]
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