Saturday, October 1, 2011

Profits, but No Joy, for Merrill

The CEO of Bank of America has been trying to save the bank's downturn for the past two years. But Despite the billions from Mr. Buffett, and tens of billions in asset sales, Bank of America can’t seem to find its way. Bank of America’s stock, down 54 percent this year, is the biggest loser in the Dow Jones industrial average. However, The billions of dollars that Bank of America Merrill Lynch is earning from its businesses on Wall Street are being wiped out by the red ink flowing out of Countrywide. Bonuses are on the line. So are jobs.

No comments:

Post a Comment