It's A Miss: Bank Of America Posts Huge $2.24 Billion Loss

[girl gone mad]

Interesting..

It's A Miss: Bank Of America Posts Huge $2.24 Billion Loss
http://www.businessinsider.com/bank-of-america-slides-after-losing-1-billion-2009-10

A miss! Bank of America (BAC) lost $.26 per share in Q3, worse than estimates of $.21. The stock is sliding pre-market.

Revenue of $26.4 billion was also well-behind analyst expectations of $27.6 billion.

Though the headline in the text is that the company just lost $1 billion, the firm actually lost $2.24 billion, if you include a dividend it paid to the government -- and you should include that.

http://www.businessinsider.com/bank-of-america-slides-after-losing-1-billion-2009-10">More...

[MNDemNY]

1. Fuck Bank of America.

Shut it down! Collect what is due the US from the fucking pockets of all stockholders.

[Xenotime]

5. +1 I want our money back. Gov't run is better than this shit.

[AndyA]

2. Perhaps it's due to people closing their accounts and going elsewhere.

Bank of America is too big, they have LOUSY customer service, and they waste too much money at the top. They've raised everyone's interest rates, now they want to add annual fees to credit cards...they just don't get it. Not at all.

Break them up, too big to fail/too big to exist.

[unpossibles]

3. am I the only one who has a hard time feeling sorry for them?

I mean, first of all they did a lot to ruin customer trust in them. Furthermore, when companies like this post a "loss" they are still making $26.4 billion fucking dollars! When I "post a loss" it means I am living in a cardboard box on the fucking street!

[unlawflcombatnt]

4. Yes

"Though the headline in the text is that the company just lost $1 billion, the firm actually lost $2.24 billion, if you include a dividend it paid to the government"

I heard multiple times on the news yesterday, including PBS (Plutocratic Bull-Shit) broadcasting that B of A had lost only $1 billion.

But they lost $2.24 billion, according to every news article I've read today.

Was the -$1 billion loss just a deliberate lie to keep the stock market from crashing on Friday?