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Bank of America Posts Third-Quarter Loss on Defaults

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Bank of America Corp., the biggest U.S. lender, posted its second quarterly loss in less than a year, unable to shake off effects of the economic slump, Bloomberg reported. “The idea that the financial crisis is over is a fantasy and it looks like the numbers bear that out,” said Harvard University professor Niall Ferguson on Bloomberg Television. “It’s clearly not over for Bank of America.”
SOURCE:   Bloomberg

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