Sunday, December 12, 2010

Bank of America in Trouble

Bank of America insists that they are doing fine, but they are the symbol of America's problems financially.
They aren't giving their customers, who are in debt, any hope.

Mr. Moynihan’s strategy has failed to convince investors, analysts, and some customers that Bank of America is headed in the right direction. The bank’s shares have fallen 18 percent during his tenure.
Mr. Moynihan has actually stabalized Bank of America, but there are still many problems.  The mortgage issue rests heavily on Bank of America; 1.3 million people under the company are not keeping up with home loans.  It's discouraging. particularly because Bank of America is the biggest bank in the US.  Many people are relying on the company to bounce back, or we could see a major panic unfold.  The business looks like it is dipping, but it is better than it looks, as the bank says.  It seems like we have past the worst of the mortgage crisis, but there is always skepticism in such an economy.

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