This just came out after trading hours, Bank of America announced that it will repay the entire $45 billion in TARP funds it received during last year's financial crisis.
For the complete news, please press here: http://www.cnbc.com/id/34239400
They are intending to raise capital within the next few days and possibly through placement or sale of current equity holdings to private investors. The big question now is, who's next in the queue to return the TARP money? Most of the traders are currently speculating Wells Fargos is next. Sadly, Citigroup is more or less the last as they gained literally nothing out of this crisis while others like BoFA, who got Merrill Lynch, and Wells Fargos getting Wachovia, JP Morgan getting Bear Stearns.
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