BAC Q4 08

--loss 1.79 bil vs 0.288 bil in Q4 07 --ML Q4 08 loss 15.3 bil, $9.62 per share driven by capital market dislocation. --US Government made another $20 bil in perferred shares carrhing 8% dividend rate --Government agreed to cover $118 bil exposure of capital assts. BAC will cover the first 10% --Tier 1 will be 10.7% --Credit Quality --Nonperforming assets were $18.23 billion or 1.96 percent of total loans, leases and foreclosed properties, compared with $13.58 billion, or 1.45 percent, at September 30 and $5.95 billion, or 0.68 percent, at December 31, 2007. --Net charge-offs were $5.54 billion, or 2.36 percent of total average loans and leases compared with $4.36 billion, or 1.84 percent, in the third quarter and $1.99 billion, or 0.91 percent, in the fourth quarter of 2007. --silver lining --it extended $115 bil credit in the Q4