[cheerful news] if you're a favoured bank

This was interesting to me on the personal level:

Bank of America (BAC.N) is close to receiving billions of dollars of support from the U.S. government as it tries to digest Merrill Lynch, the investment bank and brokerage it bought on January 1. Merrill has billions in troubled assets -- ranging from commercial real estate to subprime mortgages -- that suffered during the brutal fourth quarter.

Isn't that nice? So now the taxpayer over there is expected to shell out for some takeover, merger or other corporate move its directors decide on. The bank can move with impunity, knowing they're going to be "bailed out" along the way.

It would be nice to have a business where the government takes such a kindly interest in my welfare rather than slug me for every dollar/pound they can get their hands on.

And what of Mandy's £20bn? Favoured sons, eh?

By the way, the "personal level" was referring to when I went for a position and we were assured that BOA was the safest bank in the world. Is that right? Doesn't need a bailout then, does it?