Haven’t Seen This BofA Story Covered Locally
Business Week first reported on this, and it's since been picked up by the blogosphere. Apparently Bank of America, which reported disastrous fourth-quarter results, has hit upon a new fund-raising idea.
From the article:
Industry experts say Bank of America has reached a "new level" of "lack of transparency in raising rates," beyond anything Citigroup and JP Morgan Chase currently practice, because BoA is apparently using some undisclosed internal metric to determine who gets the rate hike.