Earlier this year, Bank of America (NYSE: BAC) received an additional slug of capital from taxpayers to digest its Merrill Lynch acquisition. In addition to billion of TARP funds, the bank received what's called a ring-fenced asset guarantee on 90% of a 8 billion pool of assets.
In layman's terms, B of A took 8 billion of dodgy assets, stuck them in a separate pile, and asked taxpayers to cover 90% of the losses after the first billion. In exchange, it was to issue Uncle Sam billion in
Tidak ada komentar:
Posting Komentar