Reuters first with Fed papers on Merrill takeover controversy

Reuters clients were first to learn on June 24 of internal Federal Reserve documents about its role and U.S. Treasury in Bank of America’s controversial purchase of Merrill Lynch, and subsequent infusions of government cash. Reuters obtained an internal congressional memo, citing excerpts from the documents, and sent headlines on confidential emails and memos at least 14 minutes ahead of the first notice from Dow Jones. Bloomberg did not run any headlines. CNBC ran the headlines as Reuters sent them.