Does Bank Of America (BAC) Get The Next Bailout?

From 247wallst.com

The Paulson/Bernanke bailout is now spreading across the financial system like a prairie fire in a stiff wind.

AIG (NYSE: AIG) got one deal. A number of banks got a piece of another deal, the $700 billion Paulson "special needs of banks" program. Now, Citigroup (NYSE: C) is getting a back-stop of over $300 billion for its toxic assets and $27 billion or so in additional money from the government in preferred shares. If those sums are not adequate, it is a reasonable bet that the Treasury will be back.

The Fed, Treasury, and FDIC are using the Citi plan an a guinea pig, and it the test works, the program could spread.

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Stocks mentioned: Bank Of America (NYSE: BAC), AIG (NYSE: AIG), Citi (NYSE: C)

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