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Citigroup and Bank of America Report Billions in Profits

HeadlineJul 20, 2009

The banking industry continues to pull in massive profits less than a year after receiving tens of billions in taxpayer bailouts. On Friday, Citigroup reported a $4.3 billion second quarter profit. Bank of America announced it had pulled in a $3.2 billion profit during the same period. Earlier in the week, Goldman Sachs and JPMorgan Chase reported multi-billion-dollar quarterly profits as well.

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