bloomberg.com - 1/16/2009
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Jan. 16 (Bloomberg) -- Bank of America Corp. , the largest U.S. bank by assets, posted its first loss since 1991 and cut the dividend to a penny after receiving emergency government funds to support the acquisition of Merrill Lynch & Co. The fourth-quarter loss of $1.79 billion, or 48 cents a ...
freechoice.seiu.org - 1/16/2009
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freechoice.seiu.org —
Tell Bank of America: Help Your Workers or
Give Back the Bailout Watch this video and sign
our petition demanding Bank of America use its bailout to help its workers and boost the economy.
(more)
Bank of America: Stop Payment on the Bailout
truthdig.com - 1/16/2009
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truthdig.com —
The taxpayers’ bank opened a new branch on
Thursday: Uncle Sam just threw $20 billion Bank of
America’s way. The government is also on the hook for $118 billion more in crap assets. Bank of America chief Ken Lewis calls it the ...
(more)
Bank of America, Literally
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Lighting A Pile Of Money On Fire
Eschaton —
... lost $1.79 billion, or 48 cents per share, in the fourth quarter, compared with a year-earlier profit of $268 million, or 5 cents. Net revenue increased 22 percent to $15.68 billion. At Merrill, the loss was $9.62 per share, driven by significant writedowns of troubled assets. Bank of America announced the results hours after it won $20 billion in new capital from the government's $700 billion Troubled Asset Relief Program (TARP). ...though the $20 billion is just the appetizer: The government said earlier today it will invest $20 ...
Lucky!
The Latest on Air America —
BoFA is lucky they don't add to our manufacturing base- otherwise they'd have to wait more than a day to get our money.
The government said earlier today it will invest
$20 billion in Bank of America and guarantee $118 billion of
assets to help the company absorb Merrill and prevent the
financial crisis from deepening.
The agreement is part of a commitment to “support
financial-market stability,” the Treasury Department, Federal
Reserve and Federal Deposit Insurance Corp. said in a joint
statement shortly after midnight in Washington.
it literally took them only ...
Bank of America: Lucky!
The Latest on Air America —
BoFA is lucky they don't add to our manufacturing base--otherwise they'd have to wait more than a day to get our money. The government said earlier today it will invest $20 billion in Bank of America and guarantee $118 billion of assets to help the company absorb Merrill and prevent the financial crisis from deepening. The agreement is part of a commitment to “supportfinancial-market stability,” the Treasury Department, Federal Reserve and Federal Deposit Insurance Corp. said in a joint statement shortly after midnight in Washington. It literally took them only hours to secure a $20 billion gift and a promise of another gift of nearly $120 billion if ...
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