{"id":530349,"date":"2010-04-16T14:05:17","date_gmt":"2010-04-16T18:05:17","guid":{"rendered":"http:\/\/www.businessinsider.com\/bank-of-america-loan-loss-2010-4"},"modified":"2010-04-16T14:05:17","modified_gmt":"2010-04-16T18:05:17","slug":"bank-of-america-nailed-earnings-partly-because-it-cut-its-loan-loss-reserves-bac","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/530349","title":{"rendered":"Bank of America Nailed Earnings Partly Because It Cut Its Loan Loss Reserves (BAC)"},"content":{"rendered":"<p>Anthony Polini of Raymond James was on CNBC this morning and chalked up Bank of America&#8217;s earnings to positive moves in the broader economy and active management.<\/p>\n<ul>\n<li>1:00 The economy is good, but Bank of America is managing itself well, and took a lot out of its loan loss reserves (JP Morgan and Bank of America have removed a $1 billion from loan losses)<\/li>\n<li>1:45 Bank of America close to getting back to even on its Merrill deal<\/li>\n<li>2:20 Feels this is just the beginning for the recovery, but suggests people need to start taking short term profits<\/li>\n<li>3:35 Low loan demand, housing still a problem<\/li>\n<li>4:00 Countrywide will eventually be seen as a good deal<\/li>\n<\/ul>\n<p>\n<object id=\"cnbcplayer\" classid=\"clsid:D27CDB6E-AE6D-11cf-96B8-444553540000\" width=\"400\" height=\"380\" codebase=\"http:\/\/download.macromedia.com\/pub\/shockwave\/cabs\/flash\/swflash.cab#version=9,0,0,0\"><param name=\"type\" value=\"application\/x-shockwave-flash\" \/><param name=\"allowfullscreen\" value=\"true\" \/><param name=\"allowscriptaccess\" value=\"always\" \/><param name=\"quality\" value=\"best\" \/><param name=\"scale\" value=\"noscale\" \/><param name=\"wmode\" value=\"transparent\" \/><param name=\"bgcolor\" value=\"#000000\" \/><param name=\"salign\" value=\"lt\" \/><param name=\"movie\" value=\"http:\/\/plus.cnbc.com\/rssvideosearch\/action\/player\/id\/1470430005\/code\/cnbcplayershare\" \/><embed type=\"application\/x-shockwave-flash\" width=\"400\" height=\"380\" src=\"http:\/\/plus.cnbc.com\/rssvideosearch\/action\/player\/id\/1470430005\/code\/cnbcplayershare\" name=\"cnbcplayer\" pluginspage=\"http:\/\/www.macromedia.com\/go\/getflashplayer\" allowfullscreen=\"true\" allowscriptaccess=\"always\" bgcolor=\"#000000\" quality=\"best\" wmode=\"transparent\" scale=\"noscale\" salign=\"lt\"><\/embed><\/object>\n<\/p>\n<p><a href=\"http:\/\/www.businessinsider.com\/bank-of-america-loan-loss-2010-4#comments\">Join the conversation about this story &#187;<\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~r\/TheMoneyGame\/~4\/RJf-r8gINW0\" height=\"1\" width=\"1\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Anthony Polini of Raymond James was on CNBC this morning and chalked up Bank of America&#8217;s earnings to positive moves in the broader economy and active management. 1:00 The economy is good, but Bank of America is managing itself well, and took a lot out of its loan loss reserves (JP Morgan and Bank of [&hellip;]<\/p>\n","protected":false},"author":1977,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-530349","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/530349","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1977"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=530349"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/530349\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=530349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=530349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=530349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}