Report: Bank of America Could Get More Government Aid

[Joanne98]

The U.S. government is nearing a deal to inject Bank of America Corp. with billions of dollars in more aid, The Wall Street Journal reported late Wednesday, citing people familiar with the situation.

The nation's biggest bank by assets acquired Merrill Lynch & Co. on Jan. 1. Bank of America received $25 billion from the government's $700 financial rescue fund, including $10 billion that would have gone to Merrill had it not been acquired.

Bank of America and the U.S. Treasury spokesmen declined to comment to inquiries made by the Associated Press.

The Journal, citing a person familiar with the talks, reported that the discussion between the government and Bank of America began in mid-December when the Charlotte, N.C., bank said it wasn't likely to go through with its acquisition of New York-based Merrill because the losses at the troubled company were larger than expected.

http://www.abcnews.go.com/Business/Economy/wireStory?id=6649570

[bluestateguy]

1. Oh good. They can use it to hire back all the people they're laying off

(I'll put the crack pipe down now)

[benld74]

2. They just completed the deal January 1st,,,

and NOW they REALIZE the debt they were assumming is MORE than they thought?
WHat kind of asswipes are running the damn place? The same ones who increase consumer fees for overdrafts?
TIME FOR NATIONALIZATION OF ALL BANKS.

[marketcrazy1]

3. looking at

100 to 200 BILLION ( in debt guaranties? ) when CITI got 290 billion in debt guaranties I knew other banks were not far behind, they all have the same toxic debt and taxpayers will continue to eat it!!!! disgusting!!! WHERE ARE THE COPS!

[NCarolinawoman]

4. One of the talking heads on CNBC today, said he "had reached his tipping point".

He said it was now clear that any bail-out money should have gone to those numerous smaller banks that "got it right". He said most of these large banks have the SAME INEPT people running them. They don't deserve the bail-out. They SHOULD NOT be rewarded. They should be allowed to fail.

Many people were agreeing with him.

[marketcrazy1]

5. THIS IS CRIMINAL!!!

The government is near a deal to give Bank of America a $20 billion capital injection and potentially absorb about $100 billion in losses, people involved in the transaction said Thursday. ( from Bloomberg )--- we keep paying for their mistakes while their CEO`s "earn" millions!, WHEN WILL WE THE TAXPAYERS SAY, ENOUGH!!!!

[lib2DaBone]

6. Why is B of A entitle to $15 Billion in Free money?

WTF?