Bank of America Is No Longer America

October 21 00:00 2011

New York Oct 21, 2011 ( – Bank of America (NYSE: BAC) has lost its position as the biggest bank in the USA to JP Morgan Chase. However, the investors are not at all disheartened. In fact, the result is quite the opposite. The investors are cheering the news about Bank of America cutting down its loss making operations and becoming a leaner and more productive organization.

The deposits held at Bank of America totaled $2.22 trillion whereas those at JP Morgan Chase totaled $2.29 trillion. This change marked a radical shift in the bank