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Bank of America Buys out Merrill Lynch
From webmaster: In a rushed bid to ride out the storm sweeping American finance, 94-year-old Merrill Lynch & Co. agreed late Sunday to sell itself to Bank of America Corp. for roughly $50 billion, including restricted stock and vested stock options.
Added: 10:04 PM, September 14th, 2008
bank collapse buyout banking failure
Chart - total borrowings through the roof
From webmaster: Total borrowings of depository institutions from the federal reserve. Borrowings to cover losses have gone stratospheric. Source: http://research.stlouisfed.org/
Added: 10:07 AM, August 1st, 2008
fed debt depression money crises bubble chart loss bank borrowing
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