The Winning Idea Of The "Bad Bank"
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From 247wallst.com
Now that Bank of America (NYSE: BAC) has been given $20 billion more capital from the government in addition to about $118 billion in guarantees against toxic asset losses, the subject of whether the government will end up owning big banks is back in the headlines.
The government set up a loss sharing of $301 billion for Citigroup (NYSE: C) as it announced over $8 billion in losses today. It will also give the firm a series of loans, if Citi needs them. And, it will.
Bank of America has a market value of $42 billion. Why shouldn't the taxpayers end up owing at least a third of the company for their $20 billion? In Citi's case, the Fed may end up with the equivalent of a 50% share.
Continue Reading at 247wallst.com >>>>>
Now that Bank of America (NYSE: BAC) has been given $20 billion more capital from the government in addition to about $118 billion in guarantees against toxic asset losses, the subject of whether the government will end up owning big banks is back in the headlines.
The government set up a loss sharing of $301 billion for Citigroup (NYSE: C) as it announced over $8 billion in losses today. It will also give the firm a series of loans, if Citi needs them. And, it will.
Bank of America has a market value of $42 billion. Why shouldn't the taxpayers end up owing at least a third of the company for their $20 billion? In Citi's case, the Fed may end up with the equivalent of a 50% share.
Continue Reading at 247wallst.com >>>>>
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