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Bank of America loses $2.24B as loan losses rise

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Bank of America loses $2.24B as loan losses rise

Unread postby SeaGypsy » Fri 16 Oct 2009, 11:29:15

This announcement out today:

http://news.yahoo.com/s/ap/20091016/ap_ ... of_america
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Re: Bank of America loses $2.24B as loan losses rise

Unread postby eXpat » Fri 16 Oct 2009, 11:38:19

Green shoots!!! :P
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Re: Bank of America loses $2.24B as loan losses rise

Unread postby dbruning » Fri 16 Oct 2009, 11:43:31

"Lewis, who is retiring at year's end, has agreed to give up his salary and other compensation for 2009."

He's already pretty damned wealthy....but at least it's better than reading his bonus is being tripled for his good work.
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Re: Bank of America loses $2.24B as loan losses rise

Unread postby highlander » Fri 16 Oct 2009, 11:55:41

Bank of America is one of the four or six megabanks that should be boycotted by middle class america.
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Re: Bank of America loses $2.24B as loan losses rise

Unread postby basil_hayden » Fri 16 Oct 2009, 13:22:20

The commercial lending problems are starting to hit, and hit hard.
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Re: Bank of America loses $2.24B as loan losses rise

Unread postby heroineworshipper » Fri 16 Oct 2009, 13:36:58

Yeah, but it beat expectations. Buy! Buy! Buy!
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Re: Bank of America loses $2.24B as loan losses rise

Unread postby seldom_seen » Fri 16 Oct 2009, 15:28:21

I think the big story here is that Bank of America is no longer, or never was part of "the club."

They're a North Carolina bank, they're not even from New York.

If this was JP Morgan or Goldman, you wouldn't be seeing these stories.

Obama's "pay czar" (wtf is that?) is going after Lewis. You think that mofo is going to be pulling the same stunts on Jamie Dimon or Lloyd Blankfein? Hah!
But how the world turns. One day, cock of the walk. Next, a feather duster.
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