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(Image from article: "Buffett invests $5 billion in Bank of America")

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Buffett invests $5 billion in Bank of America

Buffett invests $5 billion in Bank of America

Warren Buffett is coming to the rescue of another fallen giant. Buffett's Berkshire Hathaway Inc. announced Thursday that it would invest $5 billion in Bank of America Corp., giving a much-needed vote of confidence to the beleaguered bank. The news sent the bank's stock soaring 9 percent.

 

First Drop in Number of Problem U.S. Banks Since 2006

Twenty-three lenders fell off the government’s list of so-called “problem banks” in the second quarter, bringing the total to 865.

 

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