How big a loss is 32% in third-quarter profits from a bank, such as with Bank of America now?
I have just read of the tumble in the market, apparently due to Bank of America reporting a 32% loss in third-quarter profits. How does this translate into real money loss, for example? What does this do to a bank? And to the economy?
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I wouldn’t call a 3.58 drop in the DOW as a tumble in the market.
Of course bad for the bank and failing financial institutions were a sign prior to the great depression.