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BofA Says Blodget’s Analysis on Bank Is ‘Exaggerated’

(Corrects figure to $200 billion in first sentence of story published on Aug. 23.)

Bank of America Corp. (BAC), the largest U.S. lender by assets, said Henry Blodget of Business Insider relied on faulty numbers is his calculation that the company may need to raise as much as $200 billion.

“Mr. Blodget is making ‘exaggerated and unwarranted claims’ which is what the Securities and Exchange Commission stated publicly when he was permanently banned from the securities industry in 2003,” the Charlotte, North Carolina- based bank said today in an e-mailed statement.

To contact the reporter on this story: Hugh Son in New York at Hson2@bloomberg.net

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net

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