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    Bank Of America Reports $6.2 Billion Profit

    Though the number is huge — $6.2 billion — this morning's third-quarter profit news from Bank of America is generating a lot of "yeah, but" analyses.

    As in:

    -- "It booked that profit largely on selling a bunch of assets and an accounting bonus to account for the declining value of its debt." (The Wall Street Journal)

    -- "The quarter's results were skewed by one-time pretax gains including $4.5 billion in fair-value adjustments of structured liabilities, $3.6 billion from selling a stake in China Construction Bank Corp. and $1.7 billion tied to changes in value of the company's debt." (Bloomberg Businessweek)

    -- "Stripping out a litany of exceptional items, from a $3.6 billion gain due to the CCB stake sale to a $4.5 billion boost from an accounting rule that allows banks to book a profit on the falling value of their own debt, BofA's businesses produced a loss." (The Financial Times)

    The bank's recent announcement of plans to charge many customers $5 a month if they make purchases with their debit cards has not gone over well with some folks, including President Obama.

    Copyright 2011 National Public Radio. To see more, visit http://www.npr.org/.

    NPR

    A Compelling Plot Gives Way To Farce In Franzen's Purity

    The new novel reveals sharp observations and a great, sprawling story. But critic Roxane Gay says the book gets bogged down with absurdly-drawn characters and misfired critiques of modern life.
    NPR

    Huge Fish Farm Planned Near San Diego Aims To Fix Seafood Imbalance

    The aquaculture project would be the same size as New York's Central Park and produce 11 million pounds of yellowtail and sea bass each year. But some people see it as an aquatic "factory farm."
    WAMU 88.5

    Europe's Ongoing Migrant And Refugee Crisis And The Future Of Open Borders

    The Austria-Hungary border has become the latest pressure point in Europe's ongoing migrant crisis. An update on the huge influx of migrants and refugees from the Middle East and Africa and the future of open borders within the E.U.

    WAMU 88.5

    Environmental Outlook: How to Build Smarter Transportation And More Livable Cities

    A new report says the traffic in the U.S. is the worst it has been in years. Yet, some urban transportation experts say there's reason to be optimistic. They point to revitalized city centers, emerging technology and the investment in alternative methods of transportation. A conversation about how we get around today, and might get around tomorrow.

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