TTAG Daily Digest: B of A’s Last Time, Armed in the Burbs and Operators Get a New Caliber

courtesy thinkprogress.org and Getty

Bank of America promises Remington will be last semi-automatic gunmaker to get bailed out by bank

We really mean it this time . . .

Amidwidespreadcriticism for seemingly violating its pledge to stop financing companies that manufacturer military-style firearms for non-military and non-law enforcement use, Bank of America released a statement on Thursday saying that its commitment to finance the bankruptcy of Remington does not violate this pledge. According to the company, the decision preceded its pledge.

The statement, attributed to the bank’s vice chair Anne Finucane, noted that “[t]he Remington bankruptcy financing was in the works for some months and occurred before our current policy was in place. Remington is aware of the policy that we subsequently announced, and that policy will dictate our future actions after the bankruptcy proceedings conclude.”

nra president Oliver North

courtesy rollcall.com

New NRA president says gun control activists are ‘civil terrorists’

He came out swinging, didn’t he? . . .

Activists pushing for stronger gun laws are engaged in “civil terrorism”, Oliver North, the former Fox News commentator appointed as the next president of the National Rifle Association, has claimed.

The former Reagan-era security adviser, who was once convicted on charges related to the Iran-Contra affair, also claimed the NRA was the target of a “cyberwar”.

“They’re not activists – this is civil terrorism. This is the kind of thing that’s never been seen against a civil rights organization in America,” Oliver North told the Washington Examiner, a conservative newspaper. “You go back to the terrible days of Jim Crow and those kinds of things – even there you didn’t have this kind of thing.”

courtesy philly.com

Abington man with AR-15 rifle ignites debate about open carry in the Philly burbs

He’s spooking the muggles . . .

Fiorino is among a small but passionate group of open-carry advocates (you may remember the then-Lansdale resident from his 2011 clash with police during a stop in Northeast Philadelphia). They connect through online forums, post their views on Facebook, and often upload cellphone videos of themselves being stopped by police officers in towns across the country.

Last week, their passion was at the crux of heated debate in the Philadelphia suburbs after a young man walked the streets of Abington Township, Montgomery County, with a loaded AR-15 rifle strapped to his back.

Do 98 percent of mass public shootings happen in gun-free zones?

There’s a lot of hair-splitting here in service of disproving the claim . . .

Before we dive in, there are two important caveats: There’s no agreed-upon definition of “mass shooting,” and “gun-free zone” is subject to interpretation. As we’ve reported, in the 1980s, the FBI established a definition for “mass murder” as “four or more victims slain, in one event, in one location.” Shooters are not included in the victim count if they committed suicide or were killed in a justifiable homicide, according to a Congressional Research Service report. But “mass murder” is not the same as “mass shooting.”

The lack of consistency of definitions has led researchers to draw wildly different conclusions and has added ambiguity to something that, on face value, should be simple enough to determine. As with all statistics, it depends on how you count.

courtesy thedrive.com

Special Operators Getting A New Round For Their Precision Rifles And An ‘Assault’ Machine Gun

6.5 Creedmoor is popular for a reason . . .

U.S. Special Operations Command has revealed plans to replace a number of precision rifles across its components that use NATO-standard 7.62mm ammunition with new guns chambered for a smaller cartridge, the 6.5mm Creedmoor. It has also disclosed that it is developing a new “assault” machine gun that fires the same round, which is part of broader efforts to provide longer range, but still relatively lightweight fire support weapons.

U.S. Army Lieutenant Colonel Mark Owens, who is presently the Program Manager for Ammo, Weapons and Visual Augmentation Systems at Special Operations Command, gave the new details during an unclassified briefing at the National Defense Industry Association’s annual Armaments Conference earlier in May 2018. That special operations forces were considering the 6.5mm cartridge for precision weapons first emerged in 2017, but Soldier Systems Daily was first to report that this effort now includes a light machine gun, as well.

This video is NSFW:

“Doing something positive to keep away from the negative.”

comments

  1. avatar Alex Waits says:

    -BofA can piss up a rope.
    -You talk a big game Mr. North, but your actions are what POTG are waiting to judge you on.
    -It doesn’t matter if none of the mass shootings happen in “gun free zones” the your 2A rights shouldn’t end with a sign.
    -6.5CM is a solid round, but until it’s produced enough to drive the price down, it will not unseat 308win.
    -FNJ, still.

    1. avatar Secundius says:

      US Army placed a order for 6.5 Creedmoor in 2017, but unfortunately not the Lot Amount. The US Military usually buy ~1.5-Billion Rounds of Small Arms Ammunition (40mm or less) every year just for Training Purposes. It might be Months and/or Years before Prices Come Down to being Affordable…

  2. avatar New Continental Army says:

    Bank of America. Pretty sure they were one of several banks bailed out by the federal government in 2008. A bail out which, I’m pretty sure, none of them have paid back. That makes them no longer private, but government and therefore public owned. Therefore they should now be subject to every single regulation that any other government entity has to submit to.

    1. avatar Toni says:

      i say every govt employee from the post office up should swear allegiance to the constitution every day and have to recite the bill of rights at least once a week. and yes as they were bailed out by the tax payer they (the banks) should now be owned wholly by the public and therefore be held to the same

      1. avatar Leroy Jenkins says:

        Great, national socialism, that’s been historically a successful idea.

        1. avatar Toni says:

          sort of yes and hence why i say those banks should have just been let fail. now next time they want to do a bail-in meaning they take the money of the people who have entrusted their money to them. as for the govt employees knowing the bill of rights inside out…. that is so they have a constant reminder of the fact that those rights no matter what are not to be touched in any way shape or form. in fact if the 13th amendment had been kept to its original form then the banks would not be able to operate as they do now because it would have prevented contracts that are in effect debt slavery. one word was added to the original 13th and that is Involuntary which means that the banks can put in front of you a legal document for a loan that effectively puts you in deb slavery to them for the rest of your life

  3. avatar Kroglikepie says:

    Ollie is evidently a man after my own heart. Let’s see if he can back up all of his talk.

    1. avatar Anonymous says:

      Activists pushing for stronger gun laws are engaged in “civil terrorism”, Oliver North, the former Fox News commentator appointed as the next president of the National Rifle Association, has claimed.

      They are tyrants. Most people today are tyrants. Even people in this forum.

      In 1776, most people were so self sufficient they really didn’t need anyone else for their survival. Those taking part in trade, did so by negotiation until both parties were at least in agreement with their transactions. They weren’t looking to tell their neighbor what they should and shouldn’t do. Only top axioms were considered that would generally invoke retribution – such as murder, theft, rape, etc. Do that to your neighbor and rest assured his family would arrive at your abode to slaughter you and put your head on a pig pole. So to mitigate such actions, that were actually obvious to everyone, they implemented a structure, or framework for governing (stemmed from english common law). The founding fathers deliberated and implemented governing structures to handle such things, so people wouldn’t spiral into chaotic hell. And in doing so, they made an extremely respectable and great concept where even obvious monsters had rights and were innocent until proven guilty. It was predicated on the notion that society put justice above retribution. That even monsters had certain rights, and that the rules were more important even, than any form of retribution, absolutely amazing. The rules were in fact the embodiment of justice itself. To follow the rules, was just. And the rules were, innocent until proven guilty, and some other rights listed into the bill of rights and those not in the bill of rights. So take a step back from this and you see the obvious. People were free to do what they wanted, with exception of severe and grave actions that would invoke retribution.

      Now, fast forward 242 years to today, and compare. Today we have so many laws nobody in existence knows them all, but if you break one, “ignorance of the law is no excuse.” And we have laws layered onto other layers of laws onto other layers of laws. Take money laundering for example. All money laundering is – is concealing of the source of money obtained. And there is really nothing wrong with that at all. It is just another measure to make something else more illegal, kind of like gun control. Some people do bad things with guns, so some other people try to make sure nobody can get guns. And so our society has become a group of people where the majority voted for policies that allow their representatives in government and law enforcement to watch every dime that you make, and where you put it. They want a piece of what you are making and will enslave you in something they call a “prison” if you don’t. So you have factions of people saying things like “my body my right” in their justification of killing unborn babies, and in the same breath agree that people shouldn’t be taking drugs not sanctioned or permitted by the state. People are voting amongst rings of factions to force their opinions to be effectuated on the lives of others, even when there is no victim involved. It has deteriorated to a fight to the majority in order to implement a club to smack the other factions into submission by force. No longer is anyone anywhere focused on minding their own business and leaving people alone. People themselves have become the problem because “left to their own devices, [insert whatever here].” So therefore everyone must be spying on each other. Privacy is dead. Freedom is dead. And we are going to invoke this law that requires you to take this action, because we said so.

      And so that’s how it is. We are a nation of tyrants. Not Tyrant Obama. Or Tyrant Trump. Tyrant everyone. Ask anyone, and they will have an idea of what you should be doing, and if put on a ballot, they will vote that you do it, or don’t do it. And so the democracy/republic that is implemented, has forgot it’s intention. The intention was people do what they want, and when needed and when it benefits all, they can come together to accomplish something. Communities were separated. States were separated. We had multi-layers of culture. The rights of the individual. The desires of the community (federalism), and the strength of the country (statism). No longer do we pass a law that benefits all, or reject a law that some oppose on a federal level. No longer do we pass a law that benefits the individuals, or reject a law that some oppose on a communal level. Instead, we force our opinions on as many people as possible in our quest for the majority. Everyone has become a tyrant. Pick a random soccer mom and ask her about gun control, or abortion bans, or teacher salaries, forced immunizations, or lawn darts. Everyone has become a tyrant.

      1. avatar Salty Bear says:

        Well said!

      2. avatar Kroglikepie says:

        Unfortunately, you’re not wrong. Not giving a shit about what other people are doing just isn’t an option for most people these days.

      3. avatar Toni says:

        spot on mate. most of the laws that are on the books are so anti liberty they need to be removed and frankly those that dont damn well like it should leave for a country that has those sort of controls. i dont care if someone is drunk or off their face on some drug, they are still responsible for their actions if they harm someone or do damage to someone else’s property. IHMO if there is not victim there is no crime simple as that. money laundering as you said is a victimless crime, it is about power and control. in fact the govt itself is the biggest money laundering gang in town and they dont like competition. they with their mates in the FDA and CDC and the drug companies (look at how many former drug company execs fill positions in those 2 govt agencies and visa versa) are also the biggest drug cartel. hence why i say cut all govt to the very bone. dont give them a single 1/64″ of wriggle room and next time draft up their guidelines so they are left so they can craft no more than the very basics of law as well as make it so that it cannot be done in legalese but has to be done in plain english so all can clearly understand it, and then have another safeguard on top of Jury nullification called CIR meaning if they do craft a law the people dont want they can call a referendum on that law and have it pulled off the books immediately. make it also so that at least at the federal level they are not free to create all these different agencies

      4. avatar Jim Bullock says:

        Well, somebody should ask me sometime. I’m all the time asking things like:

        — Is that our business? Really, or you just think it’s icky? How about we let people go to he-hack, hack in their own way?

        — I have an opinion, but I’m not sure enough I’m right to look to enforce it.

        — Will that actually work? How do we know it’ll work? What else happens?

        I have a real hard time getting to a net utility gain for laws and initiatives, when I look at all the costs. That’s before getting philosophical like, Have we the right? and What’s our compact say?

      5. avatar BierceAmbrose says:

        Curious isn’t it how many laws for the general good amount to *they* should have to do things the way *I* think best, and *you* should have to make them.

        “Save me from myself.” laws aren’t that common. Weirdly, also there are some.

  4. avatar Anonymoose says:

    Never been a fan of Ollie North, but I guess he’s starting to grow on me now.

  5. avatar former water walker says:

    Seriously Ollie-Jim Crow?!? We got most of the guns. Oh and armed folks don’t get lynched😖Whatever…I like him more than old Wayne already.

    1. avatar Rick says:

      The problem is Old Wayne is still his boss.

      1. avatar Brian says:

        this

        former water walker: I think what Ollie is refering to is how gun control was an integral and essential component of Jim Crow. Its what the anti’s want to return to, but where we’re all n/ggas now.

  6. avatar Arc says:

    Those paintballers need some eye protection… and a little respect for glass windows and vehicles they don’t know…

    Bought a vest… but not even some shades!?

    Cops are worried about paintball ‘guns’ but not the ridiculous murder rate in the city? Some priorities.

  7. avatar wrench says:

    I’m pretty sure that BOA was under contract before all this bull#

  8. avatar Texican says:

    Col. North just needs to address the membership (and anyone else) channeling Charlton Heston and raise an AR-15 over his head and say, “From my cold dead hands!!!” Maybe add, “An AR-15 in every home!!!” Libs heads would literally explode and NRA membership would skyrocket! Might lose a few Fudds though. They’ve got that NRA TV thing now so he doesn’t have to wait for the next meeting/convention.

    1. avatar Big Bill says:

      Maybe I’ve just missed it, but I’ve never seen the NRA say everyone ought to own a gun. Feel free to show me where they say that.
      What I do see is the NRA saying everyone has the right to own a gun.
      But, “An AR-15 in every home!!!” is not what I have ever seen the NRA say, nor do I think the NRA ought to be saying that.
      The NRA concentrates on rights. What you do with those rights is your own business; buy or don’t buy, but the right is yours.

  9. avatar Jon in CO says:

    We’ll see how Ol Ollie does.

    Mass shootings are not the same as mass murder, that’s true. Mass murder is much worse.

    It’d be cool to see some trickle down on 6.5 prices. I don’t own one, but I do favor cheaper ammo across the board.

    NJ apartment owner can get F’d in the A. That’s exactly what I’d say as I moved guns in.

  10. avatar strych9 says:

    “….NJ landlord declares existing tenants can no longer possess guns in their apartments…”

    Raising the question of how they know if you have them or not…

    1. avatar TheUnspoken says:

      I can make the same type of statement, with equal enforceability: “all criminals, felons, and prohibited persons in America are hereby no longer allowed to have guns! No more guns for you! All gone! Now!”

      There. I did it. All the bad guns are gone. Just like that. Proclaimed them away. Just like those bump stocks will be proclaimed away. Poof. Gone. If you say it, it will happen! Pretty neat, huh?

      1. avatar Toni says:

        maybe he has spy cams in all the apartments like in 1984. if so i would be notifying every tennant so that they would all move out

      2. avatar Nigel the expat says:

        You forgot to put up a sign. You definitely need a sign (even if they can’t read it). 😉

    2. avatar little horn says:

      its one of those rules that they only enforce when they find it inadvertedly and dont like the tenants. it will be a cherry picking of course. thats what they want. keep you so confused and paranoid that everything you are doing is somewhat illegal.

    3. avatar Secundius says:

      I suspect it depends on how “Pound Foolish” you are! As a Courier delivering Documentation and Private Packages to People living in Apartments, I can count my Fingers Ten Times Over on all the times that someone greeted me at the door with a Gun Barrel First and a Question Second. It doesn’t take to many Encounters like that to know Who IS and Who ISN’T Living with Firearms…

    4. avatar Lost Down South says:

      It doesn’t matter if the property managements knows or not. They will hold the card until it’s needed.

      1) Virtue signaling. Costs them virtually nothing. Upscale apartments will rent anyway.

      2) Those who have guns on site will likely keep them…just be a little more hermitted and paranoid about anyone knowing it. Handguns and equipment for CC or range time can be moved in and out of the building without observation. Long arms? Unless you play a large musical instrument and have a big case, nope.

      3) If a gun owner is found out, and gets evicted, as with a hole in water, the apartment will be filled instantly, with new, higher rent.

      4) #3 will put the fear of eviction in the heart of others, who may divest themselves of guns to prevent eviction

      Win win win win win for the the management company.

    5. avatar RevolverBoomboom says:

      Shoot someone and you lose your deposit. I’m willing to bet he’s the kind to find any excuse to keep that anyway though. I’d take alive and deposit short vs the other option.

      I’m sure this will be the next big thing to push for with antis though. Helps keep guns away from renters, a group often poor and often black.

  11. avatar Nanashi says:

    “He came out swinging, didn’t he? . . .”

    I’ll believe Ollie when he says that to Wayne’s face. Someone needs to ask him that in an interview: Mr. North you said gun control activists are “Civil Terrorists”, your boss Wayne LaPierre said he supported the existing law on automatic firearms. Is he a “Civil Terrorist”?

  12. avatar Tom in Oregon says:

    Paint balling the ice cream truck?
    That ain’t right.

    1. avatar Geoff PR says:

      “Paint balling the ice cream truck?
      That ain’t right.”

      Tom, ever tried to sleep when working night shift and that G*d D **n ‘ice cream’ truck drives by slowly with that retarded ‘calliope music’ blasting from that cheap-ass tinny-sounding speaker, Tom?

      WELL, HAVE YOU?!?!?!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

      ARGH!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

      *Nail* that truck… 😉

      (But NOT the driver!)

  13. avatar Hannibal says:

    Paintball guns that are painted and look like real guns (from many angles) in a high-crime area

    what could possibly go wrong

  14. avatar Mark N. says:

    Tonight the news is reporting a “mass tragedy” in Australia in which 7 people died, four adults and three children. You have to read past the by-line to learn that it was a mass SHOOTING. You know, those things that don’t happen in Australia after Port Arthur and the mass gun confiscation? I guess t is time for another round…

    On another note, the editors should do another article updating the Waco biker killings, the ones where most of the dead were killed by the cops and everybody who was there was arrested and charged with being part of a criminal conspiracy (some 200 people). After all the bluster (and a hung jury in the first case), the DA has dropped charges against everyone except six individuals directly involved in the confrontation in the parking lot, all of whom have been charged with murder. (Oh, it seems that the police had advance notice there might be a confrontation and told the restaurant manager…}

    1. avatar Southern Cross says:

      I just heard about the incident in Western Australia. 4 children and 3 adults found dead on a rural property. It is being described as a murder suicide.

      It should be noted Western Australia has the most restrictive firearms laws in the nation.

      Media fallout due soon.

      1. avatar Toni says:

        i only just heard about it here! murder suicide will mean that the media here wont class it as a mass shooting especially if the shooter was known to the victims. it would not matter how many were killed. it could be 500 people at a family reunion and they still would not call it a mass shooting. it would still be a simple murder suicide because our gun laws stopped all mass shootings in this country dont you know. (SARC)

  15. avatar ironicatbest says:

    Maybe the military should do away with the 5.56 and adopt the 6.5 Creedmor on all small arms weapons. One cartridge to do it all. That’d be a game changer and it would really fuck up the enemy after he’s become used to the ballistic capabilities of the 5.56…..
    Bank of America, what a hoot, it’s not a bank of America, it’s a bank of infringement.

    1. avatar Andrew Lias says:

      No way, still too heavy. Maybe as a DMR gun. You’re talking probably an extra 1/4 to 1/3 capacity in 5.56 and a pound or two lighter gun at least.

      1. avatar Toni says:

        personally if going into battle i would rather a heavier rifle with longer range and bear with the extra weight than have a rifle that anything other than head/heart shot means a seasoned soldier will keep shooting at you. BTW i am female though stronger than average and i have carried a full wood Lee Enfield around all day out hunting. i was also carrying about 200 rounds as i did not want to leave that lying around at the campsite while we were away from it

        1. avatar Southern Cross says:

          No1 or No4?

          I have hunted with a full wood stocked No4 in the past. Iron sights are great in close wooded country, but still capable out to 150+ metres.

        2. avatar Toni says:

          number 1. the number 4’s were the jungle carbine and while lighter also had a lot more savage recoil and were not as accurate. the ones made in Lithgo Australia were exceptionally accurate. i also still have a M95 styer straight pull rifle (as opposed to the carbine) in 8x56r. had been having some difficulty working out where it was shooting closer in. decided to try the steel gong at 500 a while back and was hitting it most every time…. open sights

        3. avatar Yellow Devil says:

          I’m not disputing your ability to carry an Enfield rifle and 200 rounds, but the modern Servicemember on the field has to carry much more than his (or her) weapon and ammo on the battlefield. Factor in body armor, helmet, water, radio, and any other item specific to his (or her) MOS, it adds up very quickly. Which means fatigue sets in faster, regardless of how fit you may be. Not to mention the type of climate we have our troops strung out in. Then that heavy rifle and heavier round become a bigger liability because you aren’t shooting static targets or animals fleeing from you, so your hit probability goes way down with less rounds to work with. Not to mention small arms make up the least amount of kills in most modern wartime scenarios.

        4. avatar Toni says:

          yeah i agree it adds up quickly. where these troops are now though there are some questions about ammo suitability as these fanatics keep going unless it is a serious hit. they want to die in battle and are willing to blow themselves up in allah’s name…. the more they can take with them the better in their mind. also the ranges are getting a little further out than is truly effective with the 5.56. take something a little bigger that has a lot more punch out to say 800-1000 yards and you will be hitting them in a way that will at least for a time unseat them a little. why do you think snipers scare the enemy so much? yes it is a big part that they are unseen but it is also the distances that they can reach out and send a message to the oppositions god

        5. avatar Mad Max says:

          Sounds like a pitch for an M1 Garand or an M1A.

          I’d grab my Garand before I’d grab my AR if I thought I was going to war. I’d take them both if I could (for ammo availability in the field).

        6. avatar Toni says:

          @Mad Max

          if i had a Garand or anything similar i would do the same. dont have anything against the AR15 i would just prefer a little more hitting power and range for a battle rifle. i have my M95 Styer straight pull but it is almost impossible to get ammo for now. would have to roll my own from scratch before long. still might get me started till i could pick up something better. also have a howa 1500 .223. bolt actions are the mainstay of what we can get here in australia now

        7. avatar TrueBornSonofLiberty says:

          Much different going out hunting for 5 or 6 hours and stalking a few miles and going on an endless patrol for days at a time with a 100 pounds on your back. Ounces equal pounds and pounds equal pain. Our rifles are light for a reason.

  16. avatar Wiregrass says:

    BofA has had policies screwing over gun manufacturers long before Remington announced bankruptcy. In this case, I have a gut feeling that Cuomo is giving them a pass because of some financial effect this will have on the State of NY. Face it, they are lying hypocrits.

    https://www.yahoo.com/news/bank-america-allegedly-drops-mcmillan-gun-company-political-175018694–finance.html

  17. avatar Gun Owning American says:

    Now, North neess some action to go with those words.

  18. avatar FlamencoD says:

    When people think of mass shootings, they think of random place and time, for no obviously apparent reason. Gang members shooting other gangs, drug deals gone bad, crime sprees, etc., aren’t what the public believes to be mass shootings. When someone hears about gang members being killed in a shootout or drive by, they don’t lump that in with Parkland, Sutherland Springs, Vegas, or any of the other many unfortunate mass shootings. That Wa Post article is obviously biased as it didn’t scrutinize the everytown study that includes gang killings.

  19. avatar Jonathan-Houston says:

    BofA has a whole army of management scientists, operations researchers, and econometricians who have crunched these numbers. Bottom line is that a major bankruptcy proceeding is worth millions up front and millions more im investment banking fees later on.

    A few credit card and business checking accounts for some local gun shops and small arms manufacturers brings in maybe enough business to fund the lollipops the drive-through tellers send back through the pneumatic tubes.

    The big deal goes through because it’s all about big bucks. The little guys get hosed because the executives getting patted on the back by their liberal buddies at Manhattan cocktail parties is worth far more than the pittance of business they lose by blowing off small time gun guys.

  20. avatar Ing says:

    “Nobody wants to take your gu–NO GUNS ALLOWED! HAND ‘EM OVER! Er…yes, as I was saying, nobody wants to take your guns away.”

    As for Oliver North, he’s just calling it as it is. We’re up against people who hate the very idea of our existence and believe the end justifies the means. Terrorists cloaked in law, that’s what they are. You’d best believe they’d be digging mass graves if they thought they could get away with it.

  21. avatar Rick says:

    Not sure I understand the POTG thing. When I see that it normally comes with an attack on the NRA or those who are not as hard over as the writer.

    The 30 cal was THE round from 1892 to 1963 when the military went to the 5.56/.223. At that time Gen. Hatcher and others believed that this was too small to be effective. Both the Brits and the US prior to WW II were looking at the .276 cal round, but with all the 30-06 in the warehouse, it did not make sense.

    Now we are looking at 6.5mm which is a necked down 7.62 NATO (or 308 Win). Will have to see what the troops have to say. It will increase the weight per round carried.

    1. avatar Secundius says:

      No Brass! 6.5mm (6.45×42) Cased Telescopic Ammunition…

      1. avatar B-Rad says:

        Nope, they are specifically buying 6.5 Creedmore.

  22. avatar million says:

    BoA’s taxpayer bailout history…

    Bank of America received $20 billion in the federal bailout from the U.S. government through the Troubled Asset Relief Program (TARP) on January 16, 2009, and a guarantee of $118 billion in potential losses at the company.[62] This was in addition to the $25 billion given to them in the fall of 2008 through TARP. The additional payment was part of a deal with the U.S. government to preserve Bank of America’s merger with the troubled investment firm Merrill Lynch.[63] According to a March 15, 2009, article in The New York Times, Bank of America received an additional $5.2 billion in government bailout money, channeled through American International Group.[65]

    https://en.wikipedia.org/wiki/Bank_of_America#Federal_Troubled_Asset_Relief_Program

Write a Comment

Your email address will not be published. Required fields are marked *

button to share on facebook
button to tweet
button to share via email