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01-24-2008
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#1 (permalink) |
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Senior Member
Join Date: Dec 2006
Posts: 35,579
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Profits of big banks down 95pc through credit losses
Bank of America and Wachovia, banks ranked second and fourth in size in the US, say their quarterly profits were nearly wiped out by more than US$10 billion ($13.2 billion) of credit losses and write-downs.Fourth-quarter earnings...
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