BANKING: Shrewd Coincidence

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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