The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: John Vosilla who wrote (135383)	7/21/2008 11:32:47 AM
From: Jim McMannis	Read Replies (1) of 306849

Bank of America profit falls 41 percent but tops views news.yahoo.com NEW YORK (Reuters) - Bank of America Corp (BAC.N) on Monday reported quarterly profit that fell less than expected, as improved investment banking and trading results offset a surge in bad loans, causing shares of the largest U.S. retail bank and mortgage lender to soar. The 41 percent drop in earnings was the bank's fourth straight quarterly decline, as the bank more than tripled the amount it set aside for bad loans, largely because of falling home prices and a slowing economy. Bank of America nevertheless became the fourth of the nation's five largest banks to top quarterly earnings forecasts, joining Citigroup Inc (C.N), JPMorgan Chase & Co (JPM.N) and Wells Fargo & Co (WFC.N).

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