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

Thursday, 28 Oct 2010 | 12:52 PM ET

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.

Bank of America flag
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Bank of America flag

"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.

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