Debt levels of US banks overshadow quarterly profits

Tuesday, April 21st 2009 - 08:10 UTC

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Concerns about debt levels at Bank of America have overshadowed its better than expected profits for the first three months of 2009. The US largest bank set aside 13.4 billion US dollars to cover credit losses, from the fourth quarter's 8.5 billion. Read full article

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EvelynGuzman
Yay! There may be improvement in the banking situation although the debt levels are of course so much greater that the profit Bank of America earned. What I cannot understand is the purchase of Merrill Lynch. That purchase may not be as transparent as it should be because why buy it knowing all the debts you have already.

Evelyn Guzman
http://www.debtchallenges.com/bonus.html (If you want to visit, just click but if it doesn’t work, copy and paste it onto your browser.)
Apr 22nd, 2009 - 07:20 pm - Link - Report abuse 0
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