Munger Tolles Advises Buffet In $5B BofA Rescue

Law360, New York (August 25, 2011, 2:52 PM EDT) -- Famed investor Warren Buffett on Thursday threw a $5 billion lifeline to Bank of America Corp., which is sagging under the weight of bad mortgage loans and rumors of a need for additional capital.

The $5 billion cash infusion into Bank of America is a key vote of confidence in the Charlotte, N.C.-based bank, the nation's largest. Buffett, who said in a CNBC interview he got the idea of investing in Bank of America while in the bathtub, contacted Bank of America CEO Brian Moynihan on...
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