Then WTF did they need $50 BILLION in TAXPAYER BAILOUT?
"Bank explores sale of Columbia group" by Beth Healy, Globe Staff | April 3, 2009
Bank of America Corp. is evaluating a possible sale of its Columbia Management investment group, a person briefed on the effort said. The Columbia Funds, created from the merger of several fund brands over the years, had $386 billion in assets at the end of 2008.
The fund group employs nearly 1,000 people, many of them in Boston. A possible sale, first reported by The Wall Street Journal, comes as Bank of America needs to raise capital, and on the heels of the fund group's $459 million loss in 2008 due to losses in money markets.... --more--"
The fund lost 12/100ths of a penny, a total of millions -- and yet, BoA got BILLIONS in TAXPAYER DOUGH!
Related: Banks Begin Repaying Taxpayers
FDIC Preparing For Massive Bank Failures
