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Old 01-15-2009, 03:56 PM   #3
Dantheman62
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Join Date: Sep 2008
Location: So. Cal. U.S.
Posts: 4,205
Default Re: Citi Group to go.... Bank of America to follow

WASHINGTON (AP) -- The federal government is considering a fresh multibillion-dollar aid package for Bank of America Corp. to help it absorb losses at Merrill Lynch.

Bank of America has received a total of $25 billion in capital injections from the Treasury bailout fund, called the Troubled Asset Relief Program, or TARP. That includes $10 billion for Merrill Lynch & Co., which Bank of America bought in a deal that closed Jan. 1.

In the Citigroup rescue late last year, the bank received a fresh $20 billion capital infusion from Treasury's bailout fund -- after earlier receiving $25 billion -- as well as government backing of billions in risky assets held by the bank
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