When the bailouts started I said it was the beginning of creating a centralized bank in America.
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.
…
The second lifeline brings the government’s total stake in Bank of America to $45 billion and makes it the bank’s largest shareholder, with a stake of about 6 percent.
It seems we’re almost there. Bank Of America will soon be The Bank Of America.
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The One And Only
Slobokan.
All other material and brand or product names are copyright and/or registered trademarks of their respective holders.
E-Mail sent to any kooksinsuits.com address, or the feedback address listed at the top of the page, may be considered for publication unless the recipient is expressly notified otherwise.
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