BoA Messes up Once Again

[ForumReader]

Since there has been several threads about BoA screwing up with some of their transactions, here is a new one. I received a call from my landlord asking me to check to see why my check for the April's rent was returned back. I told him my check cleared and never bounced and to please call BoA to get details first before accusing of anyone bouncing his/her checks. Turned out that BoA deposited somebody else's check into my landlord's account by mistake and then took it out without informing my landlord. Way to go BoA!

[banca rotta]

Speaking of BOA screwing up again I was watching frontline and when it went into the financial crisis of 2008 it was amazing how our govt suckered BOA's Ken Lewis into the Merrill deal.

Lewis always wanted to buy M.L. and hated Wall Street banks so he thought he was going to steal them since they were bk.

Paulson told him to buy them and said it's a good deal and they looked over all the paperwork for a company that size in only a weekend.

Once Lewis at BOA saw a month later that Merrill had 15 billion in losses in just that quarter (not to mention Merrill managers only cared about their bonus's) Lewis tried to opt out and Paulson and Bernanke threatened him.

BOA almost went under with all ML's losses.

It was 40 B in Tarp that saved it otherwise they both would have collapsed.