The Federal Reserve Board's antitrust hearings in San Francisco against Transamerica Corp. last week entered their second year. For the past year, FRB has been trying to do two things: i) prove that Transamerica is a monopoly, and 2) force it to sell its holdings in Bank of
America, the biggest U.S. private bank. Last week, Transamerica made a move on the second point.
With no warning to FRB, Transamerica President Sam Husbands announced a sale of 1,199,554 Bank of America shares on the open market, to lower Bank of America holdings from...
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