Bank of America profit plunges 73% on heavy write-downs

[royong]

Bank of America said Friday that 2008 net profit fell 73 percent from the prior year, to 4.0 billion dollars, due to rising credit costs and heavy write-downs.

More... (http://sg.news.yahoo.com/afp/20090116/tts-us-banking-company-earnings-bofa-972e412.html)