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Tuesday, January 22, 2008

BofA: $5.28 Billion in CDO Write-Downs

by Calculated Risk on 1/22/2008 08:05:00 AM

From the WSJ: Bank of America Reports Sharp Drop in Earnings

Bank of America Corp.'s fourth-quarter net income fell 95% as the company recorded a higher-than-expected $5.28 billion in collateralized debt obligation write-downs and said credit costs soared.