The fact that Bank of America's non-interest expenses have been on the decline over the last two quarters without a negative impact on revenue figures is indicative of the effectiveness of the cost-cutting measures. The bank's quarterly non-interest expenses fell to just above $17 billion from $19.1 billion in the first quarter and almost $23 billion in the second quarter of 2011.
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This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.