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Financial tsunami swamps the world
September 17, 2008
Bank of America bought out US investment giant Merrill Lynch for $50 billion.
Image: People use a Bank of America automatic teller machine (ATM) in Washington. Bank of America announced earlier in the day it was buying Merrill Lynch for $50 billion in stock, scooping up the Wall Street icon battered by the housing and credit crisis. | Photograph: Nicholas Kamm/AFP/Getty Images
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