Bank of America Clobbered on $50 Billion Capital Shortfall Related to Mortgage Losses

"Shares of Bank of America corporation are getting clobbered once again, this time on news of a $50 billion capital shortfall related to devastating mortgage losses.

Please consider BofA Mortgage Settlements Magnify Capital Strain as $50 Billion Gap Looms

Bank of America Corp. (BAC) may have to build its capital cushion by $50 billion and renege again on Chief Executive Officer Brian T. Moynihan’s pledge to raise the firm’s dividend as mortgage losses drain funds..."

at  http://globaleconomicanalysis.blogspot.com/2011/07/bank-of-america-clobbered-on-50-billion_18.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MishsGlobalEconomicTrendAnalysis+%28Mish%27s+Global+Economic+Trend+Analysis%29