Bank of America Merrill Lynch reveals $1.2 billion loss for Q4
Bank of America Merrill Lynch (BAML) pays $2 billion in goodwill impairment in last quarter, posts dramatic losses for 2010
Bank of America Merrill Lynch (BAML) has announced it lost $1.2 billion over the course of the fourth quarter, 2010.
The US bank says the loss was due to a $2 billion “goodwill impairment” charge paid on its home loans and insurance segments. Otherwise it would have reported profits of $756 million.
Goodwill is an intangible asset included on balance sheets to cover assets that cannot be
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