We had talks outside Lehman Brothers’ old headquarters, expressed our solidarity with USUncut outside the Bank of America who paid $0 in tax last year….
So, err, why did Bank of America pay $0 in tax last year?
Umm, 2010 results:
Bank of America posted a $2.24 billion net loss
income applicable to common shareholders was a net loss of $2.2 billion, or $0.29 per diluted share.
BoA didn\’t pay any corporate income tax because there wasn\’t any corporate income to pay tax on.
Are these uncut people all irredeemably stupid?