BOA -Bank of America profits decrease 77%

Another indication of a recession was shown today when Bank of America announced a 77% decrease in profits. Bank of America had not previously shown the wounds of some of it's largest competitors. This still remains true. However, many departments including investment banking were hit hard this quarter.

Although shares did inch further down this morning, there was not a huge dip. Moreover,There is speculation of a cut on their large dividend. At the current dividend rate, I find this stock a buy and a bargain. It will just take patience to ride out this year to year and a half wave.