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Bank Of America's $10.7 Billion Accounting Mistake Hid Debt, But Was Accident, Bank Says

Bank Of America

First Posted: 07/11/10 02:46 AM ET Updated: 05/25/11 06:00 PM ET

Bloomberg:

Bank of America Corp., the largest U.S. bank by assets, said it wrongly classified as much as $10.7 billion of short-term repurchase and lending transactions as sales from 2007 to 2009 to reduce its end-of-quarter assets.

Read the whole story: Bloomberg

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Filed by T.J. Ortenzi  |