At Bank of America, an $8.8 Billion Loss

``Bank of America reported a loss of $8.8 billion in the second quarter as it doled out huge payments to settle legal claims related to its troubled mortgage division. The loss, which amounted to 90 cents a share, was steep, but it was fully baked into expectations. Analysts predicted the bank would lose 90 cents a share, compared with a profit of $3.1 billion, or 27 cents a share, in the period a year earlier.''