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|User Info||Is It Time To Close Down Bank of America?; entered at 2011-10-18 20:26:41|
Registered: 2010-10-17 Chicago
Check out page 14, second and third paragraphs. The way I read it, the FDIC has 60 days to object (and thus block) the section 23A exemption. From what I have read, B of A did this to keep from posting additional margin (I read $3 billion). Ya, well, it looks like they are going to have to come up with the money after all. Guess the boys on the other side of those derivatives didn't buy off everybody. I doubt this will sink the ship, but it will make it ride a little lower in the water.