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.
Treasury to Increase Aid to Bank of America
HeadlineJan 15, 2009