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: Mortgage Lender Implode-o-Meter

Bank of America Is Totally Above-Board

By Implode-Explode Heavy Industries

``Bank of America Corp., the biggest U.S. lender by assets, almost doubled a goodwill impairment for its credit-card unit to $20.3 billion to reflect increased defaults and an almost two-year-old change in rules... Incidentally, that $10 billion increase is about 7% of the firm's market cap, but they're only down 4% on the day. Looks like people still believe in the candy-crapping Unicorn.''

Full post as published by Mortgage Lender Implode-o-Meter on February 22, 2011 (boomark / email).