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BofA chief calls Merrill aid ‘mistake’


BoA received an initial $25bn from the Treasury in September. It requested a further $20bn at the end of December as the scale of Merrill’s losses eclipsed BofA’s initial forecasts.

“In hindsight, it was a tactical mistake because it put us in the same category as Citigroup,” said Mr Lewis.

Mr Lewis said that it would have been better to request only $10bn for that purpose. He said that could have helped to curtail investor fears that further problems were in the offing.

Mr Lewis has come under fire for paying close to $20bn to acquire Merrill Lynch just as the ailing investment bank was posting $15bn in fourth-quarter losses, and then asking the government for aid to keep the deal afloat.

eclipse 〈幸福などに〉暗い影を落とす; 〈…の〉光を奪う

hindsight 後で考えると

curtail 削減する; 縮小する

in the offing 近い将来に

ailing 病気の[で], 患って(いる); 悩んで(いる)

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