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Treasury to Increase Aid to Bank of America

HeadlineJan 15, 2009

And the Treasury Department is reportedly finalizing a new plan to give Bank of America billions of additional dollars on top of the $25 billion infusion it’s already received in the taxpayer bailout. Bank of America says it needs the funds to complete the acquisition of the troubled firms Merrill Lynch and Countrywide. $10 billion of the $25 billion Bank of America received last year was earmarked for its purchase of Merrill Lynch.

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