Go back to 2008's financial crisis and Bank of America, weakened by the acquisition of Merrill Lynch, looked troubled - by spring 2009, it had taken $45bn (£28bn) of US government support. But, unlike UK banks that needed bailout cash, Bank of America had recovered sufficiently by the end of 2009 to repay US taxpayers. And progress has continued since then, leaving the shares, which still trade well below reported net tangible assets, with plenty of recovery potential.
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