Hi As newly registered user i just wanted to say hi to everyone else who uses this forum :-)
== UPDATE: US To Provide $20 Billion In Fresh Cap For Bank Of America. ==
Of DOW JONES NEWSWIRESWASHINGTON -(Dow Jones)- U.S. officials early Friday disclosed they have agreed to provide Bank of America Corp. (BAC) with an additional $20 billion in capital and backstop losses on up to $118 billion of its assets.The U.S. Treasury plans to provide the bank with $20 billion in capital Friday through a program created to aid Citigroup in recent months. It and the Federal Deposit Insurance Corp. will provide protection for the bank's assets, which already have been marked to current market value.The announcement from the U.S. Treasury Department comes the day after the U.S. Senate moved up a vote related to the release of a second tranche of funding under the controversial $700 billion Troubled Asset Relief Program and just hours before Bank of America was scheduled to release its fourth quarter earnings.Bank of America already has received $25 billion in TARP funding but needed an additional capital injection to help it digest losses related to its acquisition of Merrill Lynch
