U.S. injects capital in nation's largest bank yet again

[Bindare_Dundat]

Paulson a month ago: "Banks have been stabilized." I guess his defintion is different then everyones else's.

BofA: $20B bailout, huge Merrill loss

Bank of America has received another $20 billion from the federal government's bailout fund, along with guarantees on $118 billion of assets at the bank, to absorb its recent purchase of the ailing Merrill Lynch.

Details of the deal were announced by the government in the early hours of Friday.

The Treasury will extend $20 billion more to the bank under the $700 billion Troubled Asset Relief Program. The funding will come from the TARP Targeted Investment Program, not the subset $250 billion Capital Investment Program designed to prop up health banks' balance sheets.

The first half of TARP is already used up, the other half was released for Obama admin, these guys are pulling money out their ass where none exisits. The TARP is going out of control.

[shootfighter1]

I do not understand this.

[Mark Kerr]

Just think what the economy will be like a year from now.

[JOCKTHEGLIDE]

Just think what the economy will be like a year from now.

HIGHER TAXES FOR ALL,,,AND IN THE END IT BE FOR GREATER GOOD,,,,

[Fury]

This is hilarious. They bought ML because they said they could handle absorbing them and it would make them financially secure and now they're taking $20 billion to protect themselves from the fuck up of a purchase that was. Brilliant.

[Soul Crusher]

I do not understand this.

Its called delaying the inevitable until Obama takes office.

[240 is Back]

Its called delaying the inevitable until Obama takes office.

Yes.  Bush will do everything possible to time it so that the big crash comes about a day after Obama takes the oath.

then you'll have all the brain-dead twats bragging about how Obama ruined the ecomony, and how things were fine when Bush was in office.  Pathetic.

[Soul Crusher]

Yes.  Bush will do everything possible to time it so that the big crash comes about a day after Obama takes the oath.

then you'll have all the brain-dead twats bragging about how Obama ruined the ecomony, and how things were fine when Bush was in office.  Pathetic.

Obama is really stepping into a disaster.

If GWB does not pardon the border patrol agents, i really will loathe him even more than i do now.

[Slapper]

It amazes me how some people bitch and moan about the cost of education in the state of New York costing about 25 billion dollars, something that benefits ALL of New Yorker's kids.

Meanwhile a "mere" 20 billion-dollar "gift" to a corporation that will turn around and give it to a handfull of people only ignites minimal criticism from these cynics.

That takes some balls.

[Soul Crusher]

It amazes me how some people bitch and moan about the cost of education in the state of New York costing about 25 billion dollars, something that benefits ALL of New Yorker's kids.

Meanwhile a "mere" 20 billion-dollar "gift" to a corporation that will turn around and give it to a handfull of people only ignites minimal criticism from these cynics.

That takes some balls.

1.  Maybe because the BEST private schools cost less than the public schools and do a far better job at educating students?

2.  Maybe because we pay some the highest property taxes in the nation and get little to show for it?

3.  Maybe because the AFT is always screaming for more money while fighting tooth and nail to preserve tenure and no accountability?