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JAN 17, 2013 - Zero Hedge

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The Frightening Truth Behind Bank Of America's "Earnings"

Over a year ago we noted that when it comes to Bank of America "earnings", items which traditionally are classified as non-recurring, one-time: primarily litigation and mortgage related charges, have now become recurring, and all the time, courtesy of the worst M&A transaction of all time - the purchase of Countrywide and its horrifying mortgage book. Today, this is finally being appreciated by the market where even the pompom carriers have said that it is time to start ignoring the endless addbacks and focus on actual earnings. The same cheerleaders have also, finally, understood that ... Read More

Tags: The Frightening Truth Behind Bank Of America's "Earnings",  Taxes Latest News