I have to wonder where this story came from. Someone who has a natural distrust of mega corporations in general and banks in particular might think that the bank intentional leaked this story today to deflect attention from another story.
Today Ohio’s Attorney General filed a class action lawsuit against Bank of America. (Other Attorneys General might be filing as well, but right now I am not sure who all is in)
The suit claims Bank of America executives improperly concealed billions of dollars in losses and billions in bonuses totaling $5.8 billion paid by Merrill Lynch before a shareholder vote on their proposed merger thereby jeopardizing several of Ohio’s pension’s funds.
http://www.newsvine.com/_news/2009/09/28/3325201-ohio-ag-takes-lead-role-in-bank-of-america-lawsuit
Less than a week before the legitimate case is filed, this bogus “1,784 Billion, Trillion” lawsuit is file and the case is presented to the press today. Could it be BOA wants to hide their shenanigans?