Billions in U.S. Bank Rescue Funds are Fueling Buyouts Worldwide – Instead of Lending at Home
Dec 5th, 2008 | By William Patalon III | Category: Financial NewsBank of American Corp. (BAC), which is getting $15 billion from the U.S. government as part of the Treasury Department’s $250 billion “recapitalization” effort, is doubling its stake in state-owned China Construction Bank Corp., and will hold a 20% stake worth $24 billion in China’s second-largest lender when that deal is finalized.