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BofA Shares Fall, Countrywide was Expensive

Submitted by WSN_Staff on Fri, 01/21/2011 - 13:20.
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Bank of America - Working Image (NYSE:BAC)

Bank of America Corp. (NYSE:BAC) shares are down 1.7% and trading at $14.29, thanks to Countrywide and bad mortgages the company lost $1.6 billion in Q4 2010.

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Its not all bad, BofA did rake in $22.4 billion in revenue for the quarter but the Street was not impressed as the company scored $25.1 billion in revenue in the prior year.  Bank of America full year 2010 the bank reported a loss of $3.6 billion compared with a loss of $2.2 billion in fiscal 2009.

Here more about the conference call:

 

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