Stingray24
Proud member of the vast right-wing conspiracy
+1,060|6416|The Land of Scott Walker
" ... this morning reported a 77% drop in profit for the first quarter, with BofA earning $1.21 billion, or 23 cents per share -- down from the $5.26 billion, or $1.16 per share, the banking giant reported in the first quarter of 2007. Analysts were expecting earnings of 41 cents per share."

http://articles.moneycentral.msn.com/In … rkets.aspx
GorillaTicTacs
Member
+231|6344|Kyiv, Ukraine
Everybody needs to contact Congress right now to tell them to prop up BofA's stock with a taxpayer funded bailout!  Somebody's rich friends might end up in the soup line with the common trash.
HurricaИe
Banned
+877|5932|Washington DC
Fuck BofA, they screwed my dad's credit score over.
ATG
Banned
+5,233|6500|Global Command
I feel their pain.
Phrozenbot
Member
+632|6586|do not disturb

Expect much more losses with banks. They are reporting first quarter earnings and it won't be pretty. This subprime debacle has spread into prime and commercial loans, as well as credit cards. It will get worse before it gets better.
PuckMercury
6 x 9 = 42
+298|6498|Portland, OR USA
Glad I don't work at a bank anymore. 

That being said, I think joy at the suffering of the banking system at large is a little short sighted albeit momentarily amusing
Bertster7
Confused Pothead
+1,101|6552|SE London

Have you seen what RBS (second largest highstreet bank in the UK) are doing?

They're fundraising through the shareholders. Getting them to pay more money for more shares to give them greater working capital. That's something I really approve of. I'm not so sure about the Bank of England's rather bold move today though....
Kmar
Truth is my Bitch
+5,695|6571|132 and Bush

Of course their profits fell. They bought Countrywide (When you bail out other companies it hurts your profits immediately). They knew it would impact them. They are betting on the long term.
Xbone Stormsurgezz
Stingray24
Proud member of the vast right-wing conspiracy
+1,060|6416|The Land of Scott Walker

PuckMercury wrote:

I think joy at the suffering of the banking system at large is a little short sighted albeit momentarily amusing
I have particular distaste for BofA because they are one of the banks jacking up people's rates who have never been late.  The banking industry had been my career, so I wish no ill on the ones that are fair to their clients.
Kmar
Truth is my Bitch
+5,695|6571|132 and Bush

Stingray24 wrote:

PuckMercury wrote:

I think joy at the suffering of the banking system at large is a little short sighted albeit momentarily amusing
I have particular distaste for BofA because they are one of the banks jacking up people's rates who have never been late.  The banking industry had been my career, so I wish no ill on the ones that are fair to their clients.
That's why I'll stay with my credit union. They are very fair and actually work for their customers.
Xbone Stormsurgezz
Stingray24
Proud member of the vast right-wing conspiracy
+1,060|6416|The Land of Scott Walker
Yes, for the most part, credit unions ftw.

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