Friday, January 16, 2009

Bank of America Blowout

Two weeks after closing its purchase of Merrill Lynch at the urging of U.S. regulators, the government cemented a deal at midnight Thursday to supply Bank of America with a fresh $20 billion capital injection and absorb as much as $98.2 billion in losses on toxic assets, according to people involved in the transaction.

Read more $98.2 billion in losses..

Source: international hereald tribune

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