Panel says BoA lied over Merrill

Democrats on the US House Oversight and Government Reform Committee yesterday accused Bank of America of knowing about Merrill Lynch&rsquo;s huge losses in November 2008, suggesting the bank lied to investors in saying it did not grasp the depth of the problems until later. <br /><br />The panel unveiled documents they said show the bank was alarmed by the losses a month before shareholders of both companies approved the merger in December.