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BofA Takes Another $20B Bailout on $10B Merrill Loss

Crippled by unforeseen losses and falling stock price, B of A puts its hand out. Again.

By Clay Dillow,  Newser Staff

Posted Jan 16, 2009 7:01 AM CST

(Newser) – Bank of America, sucker-punched by unforeseen losses from its takeover of Merrill Lynch, received another injection of $20 billion from the Treasury, the Wall Street Journal reports, bringing the total cost of BofA’s bailout to $45 billion. BofA’s shares shed 40% of their...   Read full story »

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Bank of America • Merrill Lynch • John Thain • bailout • Wall Street bailout • recapitalization • TARP

 
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