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Apr 21, 2009

Bank of America shares plunge

NEW YORK (Reuters) – A surge of troubled loans overshadowed better-than-expected earnings at Bank of America Corp, and the largest U.S. bank said it expects the credit situation to worsen, driving its shares down 24.3 percent.

While first-quarter profit more than doubled, the results failed to end calls by investors for Kenneth Lewis to step down as chief executive or give up the post of chairman.

more on reuters.com

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