BAC sold $2.83 billion worth of China Construction Bank.
http://news.yahoo.com/s/nm/20090107/bs_nm/us_bankofamerica_ccb_5
A few weeks ago, BAC couldn't sell it's stake, because it hadn't held it for six months.
http://aaronandmoses.blogspot.com/2008/12/bank-of-america-cant-day-trade-its.html
And BAC increased it's stake in November, immediately after it got TARP funds, by dumping another $7 billion into China's No. 2 bank.
http://news.alibaba.com/article/detail/bank/100023137-1-bank-america-pay-%25247-billion.html
Now BAC, which touted this investment as a long term holding is selling part of it's piece.
No wonder Ken Lewis gets along with Secretary Paulson. They practice seat of the pants finance!
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