Posts Tagged ‘BAC’

Is $20 billion Enough for Bank of America?

Posted January 16, 2009 by Bernz

bacBank of America (BAC) today reported a loss of $1.79 billion in the fourth quarter and this is not including Merrill Lynch, which it acquired recently. Merrill Lynch lost a record $15.31bn in the quarter. Bank of America financials are supposed to be good until the purchased of Merrill. Additionally, Bank of America today announced that they received another $20 billion capital infusion from the Fed. This is on top of the $25bn the bank received from Tarp funds last October . This confirms that the crisis in the financial/bank sector is not yet over and it looks like everybody thinks that the government will not let these major banks fail.

Bank of America (BAC) stocks down more than 8% this morning.

Now, the question again is, is $20 billion enough and how far more can the Fed go?


Posted in Stock Watch | No Comments »


Disclaimer:

All the articles and content written here on Invesmint.com is for general information only and based solely on the authors personal opinions and discretion. It was not and should not be a substitute for professional advice. Visitors of this site (Invesmint.com) are encouraged to seek appropriate professional advice before acting upon the content or information from this site. Again, the content of this website is not a source for professional advice.

INVESMINT.COM hereby excludes liability for any claims, losses, demands, or damages of any kind whatsoever with regard to any information, content, or services provided at our web site, including but not limited to direct, indirect, incidental, or consequential loss or damages, compensatory damages, loss of profits, or data, or otherwise.