Wednesday, September 7, 2011
Bank of America may need more capital...
Despite a $5 billion investment from Warren Buffet and the $3 billion sale of half its stake in China Construction Bank, there is talk that Bank of America may need to sell off Merrill Lynch to further reinforce its capital base. However, BAC is up nearly 3% pre-market after announcing a management shake-up, including the departure of two senior executives and the appointment of co-COOs.
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