Bank of America or THE Bank of America?

By Paul R. La Monica, CNNMoney
2009-2-5 12:07:02

NEW YORK (CNNMoney.com) -- Is Bank of America literally destined to become THE Bank of America?

The Charlotte-based banking giant has already received $45 billion in taxpayer money. And the scary thing is that some think it may need even more to survive....possibly even an outright takeover by the government.

Shares tumbled nearly 18% early Thursday morning before bouncing back sharply later in the day and clawing into positive territory. Shares finished up 4%

But at one point Thursday, the stock was trading below $4 a share, its lowest point in more than 20 years.

That followed an 11% plunge Wednesday amid renewed speculation of nationalization.

BofA (BAC, Fortune 500) is struggling to digest the acquisitions of Merrill Lynch and mortgage lender Countrywide, and nothing it has done lately has given investors reason to be hopeful.

On Wednesday, BofA said that to cut costs it would sell three of its corporate jets and a helicopter it inherited in the Merrill deal.

	Investment Basic Investment Overview Investment Approache Fundamentals Data Investment Stories www.fxj108.com	Bank of America or THE Bank of America? By Paul R. La Monica, CNNMoney 2009-2-5 12:07:02 NEW YORK (CNNMoney.com) -- Is Bank of America literally destined to become THE Bank of America? The Charlotte-based banking giant has already received $45 billion in taxpayer money. And the scary thing is that some think it may need even more to survive....possibly even an outright takeover by the government. Shares tumbled nearly 18% early Thursday morning before bouncing back sharply later in the day and clawing into positive territory. Shares finished up 4% But at one point Thursday, the stock was trading below $4 a share, its lowest point in more than 20 years. That followed an 11% plunge Wednesday amid renewed speculation of nationalization. BofA (BAC, Fortune 500) is struggling to digest the acquisitions of Merrill Lynch and mortgage lender Countrywide, and nothing it has done lately has given investors reason to be hopeful. On Wednesday, BofA said that to cut costs it would sell three of its corporate jets and a helicopter it inherited in the Merrill deal.