The article states that taxpayers could own up to 40% of the bank's common stock, further diluting the value of its shares. As bank stocks are falling I've been wondering which would be first to to come under government control. Looks like we have the answer. Will Bank of America be next? My guess is yes. Watching the stocks of the major banking institutions around the world, it's becoming increasing apparent to me that they are flat broke. Does anybody know if any of them are trying to sell their assets yet?
Here's the article as it appears in Monday's Wall Street Journal
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