The House Oversight Committee held part III of their hearing Bank of America and Merrill Lynch: How Did a Private Deal Turn Into a Federal Bailout? This time the key witness was former U.S. Treasury Secretary Hank Paulson.

Frankly, Stonewall Hank just let Ben Bernanke off the hook, with claims of Fed Privilege and confusion to deny the Federal Reserve threatened BoA, as well as it's clear Hank Paulson threatened BoA CEO with losing his job if he didn't go through with the Merrill Lynch merger, but the issue is what isn't being answered.