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Bank of America Loses $2.2B as Loans Sour

Investment revenues up, but consumers default on nearly $10B

By the Associated Press

Posted Oct 16, 2009 8:02 AM CDT

(AP) – Bank of America Corp. lost more $2.24 billion in the third quarter, the company announced today, as loan losses kept rising. Those losses amounted to nearly $10 billion, providing further evidence that consumers are still struggling to pay their bills. The bank also added... Read full story »

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Bank of America Loses $2.2B as Loans Sour

Investment revenues up, but consumers default on nearly $10B

Bank of America • earnings reports • Merrill Lynch • loans • corporate earnings • third quarter earnings • loan-loss provision • toxic assets

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Goldman Posts $428M Loss

It's the second time it's ever lost money as a public company

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...and that's without any new product launches

Dow Up 21 After Rally Loses Steam

Dow hits new 2009 high but falls back amid light volume

Southwest Loses $120M on Bad Oil Bet

Otherwise, quarter beat expectations

Banks Face New Loan Crisis: Rebuilding Reserves

'Provisions' may turn out not to be large enough

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