Thread: Middle of the night bailout for Bank of America!!!

Middle of the night bailout for Bank of America; TARP investigation of BoA and Citigroup/Jesse Jackson event requested
By Michelle Malkin •
http://michellemalkin.com/
January 16, 2009 01:52 AM Are you beyond numb? Bush the pre-socializer says farewell with a $20 billion, secret middle-of-the-night bailout for Bank of America and an additional government backstop of $118 billion for its assets — all on top of cutting a deal with Barack Obama to give away the second $350 billion of the Crap Sandwich/TARP Big Business bailout.

McClatchy has the late-night scoop, which came in as I was about to hit the sack after midnight. I was so bleary-eyed, I thought it was a joke at first. It’s not.

Legacy:

With a new round of turmoil gripping the financial markets, the Bush administration late Thursday night rushed $20 billion in emergency funding for Bank of America.

Just months ago, Bank of America, based in Charlotte, N.C., appeared to emerge as the nation’s top bank after it stepped in on Sept. 15 to purchase investment bank Merrill Lynch. After Merrill’s fourth-quarter results proved worse than expected, however, the acquisition was in peril and investors have fled Bank of America in droves.

Bank of America’s stock lost 40 percent of its value during the past 10 days — shares closed on Thursday in single digits for the first time in 18 years — and the taxpayer money will be used to ameliorate the losses from its acquisition of Merrill Lynch. Chief Executive Ken Lewis called it “deal of a lifetimeâ€

Boycott Bank of America!

http://www.bankofamericaboycott.com/

W