July 17, 2009

Is Bank of America's 'profit' really hiding a loss?

Bank of America Corp. this morning said it earned $2.4 billion in the second quarter, but the results included a number of one-time gains that helped the bank post a profit, analysts noted. One analyst said, by his estimate, these items buoyed earnings by $3.8 billion, eclipsing the bank's profit of $2.4 billion.

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