We shall see.
Bank of America packed as much bad as possible in Q4 and wound up with a $1.24b. loss. That sets up a 2011 with a clean slate. Right? And maybe an expectation that things start to get better.
If that is the case — and revenues remain flat — the only place to go is to expenses. Guess we’ll find out in a few weeks.
Update: Indication why revenue might be hard to find — housing will stay in the crapper for 2011.
