BofA gets $138 billion bailout

It's a big news day for Bank of America. Here are key developments: The Treasury and FDIC are protecting BofA against unusually large losses on $118 billion of loans and securities backed by loans, according to a press release by the Federal Reserve. The release says, The large majority of these assets were assumed by Bank of America as a result of its acquisition of Merrill Lynch. The assets will remain on Bank of America's balance sheet. As a fee for this arrangement, Bank of America will

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