From
www.treas.gov/initiatives/eesa/docs/TransactionReport-11172008.pdf
4 banks received 25 billion each. (Until Bloomberg is successful in their FOI suit against the Federales , who knows how much more.)
Citigroup
JP Morgan Chase
Wells Fargo
Bank of America/Merrill Lynch
Citigroup is the first of the 4 to crack, JP Morgan needs more capital then Citi, and not a soul on the planet - perhaps not even Ken Lewis - doesn't believe Bank of America overpaid for Merrill.
If Citi cracks up, how can Bank of America not look to retrade?
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