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Bank Of America Corporation
3.24 Change:-0.69 -17.56%
Originally posted by burntheships
reply to post by BostonBill99
Yes BofA bound for another merger/buyout/takeover. When Wamu went down, there had been a run for 10 days, but it was kept hush. Not untill it was bought by Chase did the media report.
Also, I am suprised that Citi has not been seized.
Each bank has already received $45 billion in government aid in recent months and a backstop on losses on toxic assets. The aid exceeds the banks' current market value.
Last month, Bank of America posted its first quarterly loss in 17 years, after mounting losses at Merrill Lynch. Citigroup has lost $28.5 billion in the last 15 months, hammered by bad debts and toxic assets.
Originally posted by xoxo stacie
Exactly what happened in the last 20 minutes to cause the markets to jump up almost 2 percent in some cases? Are they getting ready for the last hour when they can't halt trading?