Hank Paulson probably has a “get out of jail free” letter signed (by Bush) and sealed in a safe place.
... Mr. Lewis agreed to proceed with the Merrill merger only after Messrs. Paulson and Bernanke said that he and his board would lose their jobs if Bank of America backed out of the deal. Mr. Lewis's testimony with the New York attorney general's office corroborates that account.
Isn't this extortion? sschu