Doesn't that just STEAM YOUR BEAN, Americans?
"The discussion between the government and Bank of America began in mid-December.... [the] "formulation of a plan" that includes new money from the government"
So they had INTENDED to ACCESS the other half of the program -- even as they were publicly claiming otherwise! That's what is known as LYING, folks!
"Bank of America may get billions more in US aid; Losses at Merrill seen as the reason" by Associated Press | January 15, 2009
NEW YORK - The government is nearing a deal to inject Bank of America Corp. with billions of dollars more in aid, The Wall Street Journal reported yesterday, citing people familiar with the situation.
The nation's biggest bank by assets acquired Merrill Lynch & Co. Jan. 1. Bank of America received $25 billion from the government's $700 billion financial rescue fund, including $10 billion that would have gone to Merrill had it not been acquired.
Bank of America and US Treasury spokesmen declined to comment. The Journal reported that the discussion between the government and Bank of America began in mid-December when the Charlotte, N.C., bank said it wasn't likely to go through with its acquisition of New York-based Merrill because the losses at the troubled company were larger than expected.
Oh, so the TAXPAYER has to PICK UP the LOSSES, huh?
Christ, WhereTF is OUR BAILOUT?
Treasury Department officials grew concerned that the stability of US financial markets would be at risk if the deal fell apart, the newspaper reported. Officials said they would work on "formulation of a plan" that includes new money from the government, the Journal said, citing the person familiar with the talks.
Details, the Journal said, are likely to come out with the company's quarterly results, expected Tuesday....
Yeah, the "details" are likely to come out today.
Banks are struggling to mend their balance sheets after bad bets on mortgages spread to other forms of debt.
I thought CASINOS are where BETS were placed -- not banks!!!
You know, I've lost thousands over the years gambling on football; think I could get a bailout?
Some analysts and economists are saying the government will have to spend far more than the $700 billion it has already approved to aid the financial industry.
What?
Only the first half of the $700 billion has been allocated, and Congress has not released the second half of the funds.
But THEY WILL -- and even if they don't, the executive gets it anyway!
See: Following in the Footsteps of Bush
--more--"
