BofA to need $34 billion in capital: source

Reuters ^ | May 5, 2009 10:48pm EDT

[MeneMeneTekelUpharsin]

Put buying rumor mongers would be my diagnosis.

No, actually, the truth.

[EVO X]

Argh. Something like that I would be fine leaving in place, I just wish I could move everything else.

I am winding down my Citi bank accounts. The nearest branch office is 100 miles away. They slashed outgoing electronic transfers to $2K. The inconvenience alone is a reason ditch them. Also, I have to physically go to the bank if I want to perform certain actions like terminating a CD early.

[Leisler]

Corporate dweebs, MBAs, Lawyers, RINO’s all being bitch slapped by government power and not one of them has the sack to say F off, go public, get out or I get my gun, or I’ll see you in Federal Court.

[pointsal]

Bankers should have read their TARP contract more closely when it comes to the linkage with the FDIC.

http://news.yahoo.com/s/ap/20090506/ap_on_go_ca_st_pe/us_bailout_return/print

[GOPJ]

Thanks for the ping.

[capydick]

Exactly right. Jamie Dimon comes close but - these guys need to stand up and tell the gubmint to take a hike or just get it over with and nationalize them all at the same time instead of the incremental nationalization that is going on.

[curiosity]

Bank of America has been deemed to need an additional $34 billion in capital...so let 'em start paying more than 2% on their CD's - attract capital the old fashioned way.....

They mean equity capital, not new deposits.

[givemELL]

$70 BILLION is the new figure!!!....http://zerohedge.blogspot.com/2009/04/fbr-bank-of-america-needs-70-billion.html

[Intolerant in NJ]

They mean equity capital, not new deposits...clearly I'm far from a financial whiz, but don't deposits count toward the net value of an institution, or must they be totaled separately becsue they must eventually be paid back - or is it another issue altogether?.....