The head of a congressional committee, convinced that Bank of America is not being forthcoming about its Merrill Lynch discussions, gave the bank until noon today to provide answers to a series of questions, reports the New York Times. The bank asked for more time over the weekend, but the committee apparently is sticking to its original deadline. The issue of course is whether the bank can claim that it's discussions regarding the Merrill Lynch deal--and the controversial bonuses--are protected by attorney-client privilege.  

Edolphus Towns, head of the committee, has thus set up something of a nigh-noon showdown. There is a lot on the line, given that a judge has refused to accept a $33 million settlement, the NY AG is looking into the matter and criminal probes are thought to be underway.  

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