Bernanke to be Questioned on His Role in BofA Takeover of Merrill Lynch

Get your popcorn ready.

The House Committee on Oversight and Government Reform has invited Fed chairman Ben Bernanke to testify before the panel on the government’s role in Bank of America’s acquisition of Merrill Lynch & Co. The panel, chaired by Rep. Edolphus Towns, (D., N.Y.), has invited Bernanke to testify June 25.

Bernanke has previously denied he attempted to muscle BofA into acquiring Merrill, after BofA got cold feet. BofA president Ken Lewis and internal emails indicate Bernanke did squeeze Lewis.

Of course, this type of behind the scenes muscle is used by government officials all the time. Is Larry Summers behind the scenes here, hoping to get Bernanke's position before Feb 2010,or is he at least attempting to bloody Bernanke's reputation enough so that it will be easy for Obama to pull the trigger and put Bernanke out of his misery?