Bank of America raises $13.47 billion in share sale

http://www.reuters.com/article/GCA-CreditCrisis/idUSTRE54I77V20090520

Several banks in the United States took the "stress test" to see if they were able to survive a deep recession, and ten out of 19 were told to raise capital because they did not have very good results. Bank of America Corp was able to raise $13.47 billion by a share sale. This was a giant step forward in meeting the government's requirements for capital raising. Now the bank is half-way toward meeting the $33.9 billion capital shortfall that the government identified during the stress test. Beggining on Friday the 1.25 billion shares issued were sold at an average price of $10.77 each. On Tuesday 800 shares were sold at $10 each. The bank plans to raise $17 billion more from asset sales and other ways.
I chose this article because it shows what the banks are doing to improve the economy and survive the recession. I agree with this article because I think that the banks should all they can to survive the recession and prevent the people from losing money. The information was presented fairly because it was very detailed and it was easy to understand what was going on.
I would use this source again because it has very detailed and accurate information.