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The Treasury Department Learned of the Big Bank of America Put Back Demand From the Media

Treasury officials were not given advance notice that the New York Fed was joining Pimco, Blackrock and other investors to demand the Bank of America repurchase loans included in $47 billion of mortgage backed securities.

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"Treasury officials apparently learned of the action against Bank of America from news accounts," Politico's John Maggs is reporting.

It looks like the grand age of cooperation between the Fed and Treasury has come to an end.

  • Jeff Cox is finance editor for CNBC.com.

  • Lawrence Develingne

    Lawrence Delevingne is the ‘Big Money’ enterprise reporter for CNBC.com and NetNet.

  • Stephanie Landsman is one of the producers of "Fast Money."

Wall Street