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After receiving $45 billion in bailout money already, Bank of America is now saying that it needs an additional $34 billion to make it through the “worsening recession.”

According to The New York Times, which cites an executive at the bank, the U.S. government told BofA it needs nearly $34 billion in capital to survive a worsening of the recession. An official announcement of the results of the government’s stress tests of 19 banks is expected after the close of U.S. stock-market trading Thursday.

All indicators are saying that the worst of the recession is over and perhaps the government should make BofA sweat a little before giving the banking giant such a large sum of money (it doesn’t have).

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Jeremy

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