Bank of America Gets New $20B Bailout

By Hercules K, BUSINESS 2.0 PRESS
Published: January 16 2009, 12:17 pm EST

bank of america Bank of America Gets New $20B BailoutThe U.S. government has issued an additional $20 billion to Bank of American as part of a plan to guarantee $118 billion in risky assets. The Bank of America initially got $25 billion in 2008 from the Troubled Asset Relief Program. Both Citigroup and the Bank of America have now gotten bailouts worth more than the fair value of both companies.

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Questions about this post? Please contact Hercules K at hercules@business2press.com

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