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11/23/07
BofA writes down $3 bil in its assets
Filed under: General, Business, Mortgages
Posted by: Lillian Wong @ 1:47 pm

CHARLOTTE, N.C. - Bank of America Corp. said Tuesday that it will take a $3 billion debt-related write-down in the fourth quarter and warned its losses could grow, adding to fears the nation’s housing and mortgage-lending slump might exact a greater toll than in the wretched third quarter when industrywide write-downs topped $40 billion.  More…

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