bank of america earnings: Bank of America "Earnings" - 07/18/09 02:13 AM
How can a bank lose money when they can borrow at 0% and lend at 5%?  Most won't lose money, and Bank of America was no exception when it released its second quarter earnings this past week, but they came close.
A couple of things from a Reuters report that are worth pointing out:
First, "Results included a $5.3 billion pre-tax gain from the sale of one-third of the bank's stake in China Construction Bank Corp".
Second, "Second-quarter net income applicable to common shareholders fell 25 percent to $2.42 billion".
When you add these numbers up you can see that Bank of America … (11 comments)

 
Mark MacKenzie

Mark MacKenzie

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