new outrage over Bank of America, Merril Lynch

President Obama promises there will be more conditions on the second half of the Wall Street bailout money.
   
Yet, there is new outrage over Bank of America, Merril Lynch, and excessive spending.
   
The federal government gave $20 billion to help Bank of America takeover Merrill Lynch, but Merrill Lynch lost more money than people thought.
   
Shareholders didn’t find out until after the deal was done.
   
Bank of America’s stock has been falling.
   
Now, stockholders threaten to sue.
   
Some complaints say the federal government should have stayed out of the whole thing.

“Well the fed and the treasury wanted Bank of America to obtain Merrill Lynch to sustain stability in financial markets.  What no one told Bank of America was just how sick Merrill Lynch really is, how large its losses would be, and what kind of liabilities it would bring,“ said Peter Morici of the University of Maryland. 
   
A former bank regulator says the government was simply trying to avoid more damage to the global economy.