WatertheTree
Senior Member
- Sep 9, 2011
- 1,804
- 171
- 48
Most recently Bank America drew attention to itself by disclosing that it had moved all of the derivatives footings from its Merrill Lynch subsidiary to the lead bank, Bank of America N.A. Bloomberg ran the first story.....
Bank America move was not merely an administrative exercise....The 23A issue is moving an exposure [from Merrill Lynch] that is in trouble to the insured institution, apparently at book value, from an uninsured affiliate.
Is Bank of America preparing for a Chapter 11? | Reuters
Say hello to another bank bailout, this one just indirect.
We are a nation of complacent and apathetic cowards, our founders would be so dissapointed.