John Thain

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John Thaine once a Merrill Lynch CEO is now leaving Bank Of America

John Thain sold Merrill Lynch to Bank Of America in September 2008. He agrees to leave after Merrill Lynch brought in a 15.4 billion dollar loss forcing Bank Of America to seek more money from the Government.

In recent news, Bank Of America had got money from the government to keep them in business. Is Bank Of America on the verge of collapse?

I would say no.

A bank which is convenient for anyone traveling or moving can't go out of business and the government of the U.S. will do whatever it takes to save the actual BANK OF AMERICA!