Tag: bank of america

US Bailout Pledge up from $7.4 to $11.6 trillion

U.S. bailout has pledged $11.6 trillion as of September 25th 2009 compared to $7.4 trillion as of November 24th 2008. Although down from $12.8 trillion on March 31st 2009. The Federal Reserve sharing a $5.8 trillion portion as of September 25th

Posted in Monetary Policy Tagged with: , , , , , , , , , , , , , , , , ,

Bank of America Loan Backstop

On January 16th 2009, Bank of America (BofA) disclosed with its first ever quarterly loss of $1.79 billion, a US government loan backstop for $118 billion on assets mostly from its government encouraged Merrill Lynch acquisition1. The loan backstop is

Posted in Monetary Policy Tagged with: , , , , , , , , ,