Marty Mosby, managing director at Guggenheim Securities, said Bank of America might have to raise $45 billion during the next several years to de-risk its balance sheet. "The real risk really comes from the overhang we get from Countrywide [Financial]," Mosby said, noting that mortgage put-backs and home-equity products could be among the biggest risks for the lender. "Those are products that are still here domestically, the ones that have the most potential stress if we were to dip into another recession," he said.

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