KeyCorp's second quarter results worse than expected

Cleveland-based KeyCorp reported Wednesday that its losses aren't as severe this quarter as they have been in the past. But the bank's results are worse than expected. The company says its profits fell nearly 400 million dollars, compared to one-point-one-three billion dollars during the same quarter last year. CEO Henry Meyer says the economy is one factor that continues to affect Key's performance. Click to Listen Other options: Realplayer / Windows Media / MP3 Download (0:12)

KeyCorp got a large government bailout, along with orders to set aside nearly a billion dollars to pay off bad loans. It sold nearly 2 billion dollars in new stock and says that should be enough to buffer the bank even if the bad economy extends through 20-10.