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Feb 11, 2012, 03:40:59 AM

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Bank of America Gets $138 Billion Bailout

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Topic: Bank of America Gets $138 Billion Bailout (Read 552 times)

Frankxc

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Joined: Jan 2007
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China

Jan 16, 2009, 12:52:54 PM

Bank of America had posted a loss for this quarter and they are the next in line for handouts from the US Government

Quote

Bank of America honcho Kenneth Lewis was given the honor of Banker of the Year by American Banking magazine just last year, but this is 2009: Today BofA posted its first loss since 1991, cut its dividend, and accepted a $20 billion investment from the government and a guarantee of $118 billion.

Source: http://nymag.com/daily/intel/2009/01/bank_of_america_posts_losses_t.html

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