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Real Estate & Property Law

: Housing Wire

BofA Needs $44 Billion, Citi Pushes Joint Venture

By DIANA GOLOBAY

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Federal regulators found Bank of America (BAC: 12.69 +17.07%), one of the major US banks faced with a government-initiated stress test, is lacking capital on the order of $33.9bn, a bank executive told the New York Times. Although executives said they consider the number larger than the bank actually needs, BofA has capital-raising alternatives to converting [...]

Full post as published by Housing Wire on May 06, 2009 (boomark / email).

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