How much cash will Bank of America (BAC) require before the Feds will give it their seal of approval?
According to FT, citing the old paople familiar with the matter, the answer is “well in excess” of $10 billion.
That could mean pretty much anything. Analysts, who have taken to whipping Bank of America as a popular game have said the bank could need as much as $60-$70 billion, a mind-boggling sum considering the bank’s total $55 billion market cap — it’s also quite big just given the fact that Ken Lewis still hasn’t changed his tune about repaying TARP.
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