Friday, April 15, 2011

$2.39bn losses from mortgage debts not repaid

Bank of America reports lower-than-expected profits

Bank of America Merrill Lynch has reported a 38% decline in profits for the first three months of the year compared with a year earlier. Mortgage losses were one of the main causes of the financial crisis in 2008 which saw Bank of America merge with investment bank Merrill Lynch. Heavy losses in the merged unit forced the bank to rely heavily on Federal funds through the Troubled Asset Relief Program.

Posted by doomwatch @ 04:01 PM (1262 views)
Please complete the required fields.

One thought on “$2.39bn losses from mortgage debts not repaid

  • Change the record, you’ve had more than your fill already.

    Please complete the required fields.

Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>