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mises
Joined: 05 Nov 2007
Location: retired
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Bigfeet
Joined: 29 May 2008
Location: Grrrrr.....
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 Posted: Sat Jan 17, 2009 4:04 pm Post subject: |
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American banks, on the other hand, are bastions of of calmness in this tempest:
http://www.bizjournals.com/wichita/stories/2009/01/12/daily49.html
Federal officials have given Bank of America Corp. $20 billion more in bailout money and have guaranteed about $100 billion in loan losses to keep the bank�s Merrill Lynch & Co. purchase on track.
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The additional $20 billion makes BofA one of the largest recipients of federal cash from the the $700 billion Troubled Assets Relief Program adopted last year by Congress. BofA got $15 billion from that program in October. When it bought Merrill, it got the $10 billion that was slated to go to the investment bank. With the latest injection, the bank will have received $45 billion. Citigroup Inc. (NYSE:C) is the other largest recipient. |
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