BeauH's Blog – November 2009 Archive (1)

Bank of America says it will sell First Republic Bank, but BofA assures the public that the purpose of the sale is not to meet the government’s capital requirements. The San Francisco Chronicle reports that in May the government ordered Bank of America to raise $34 billion after it conducted a stress test.



Bank of America says it had raised $40 billion by July. Bank of America is selling First Republic Bank to a group of investors. In the group are First Republic’s management and… Continue