News, analysis and personal reflections on the markets & the financial sector

Saturday, January 17, 2009

Bank of America might be looking for another injection

Amid reports that Bank of America needs another multibillion-dollar government injection, sources close to BofA say the bank wanted last month to call off its acquisition of Merrill Lynch after learning the depth of Merrill's fourth-quarter losses. Coupled with concerns about the financial health of Citigroup, the revelations about Bank of America indicate even greater woes within the U.S. banking sector.

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