Bank of America announced last Friday that they lost $1.6 Billion (that's Billion with a 'B') in just the 4th quarter of 2010, trying to clean up their mortgage department mess.
"Brian Moynihan, completing his first year as CEO, said he was disappointed but stressed that the bank is tying up old problems and moving ahead."
I realize that Mr. Moynihan inherited this problem and is not totally to blame for the bank's losses, but disappointment is a bit of an understatement...
Read the rest here: http://bit.ly/hOBfrq
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