Frontline did a piece on Bank of America on June 16th 2009. I have been waiting for this piece to post since they announced it so I could watch it. I am frankly disappointed with Frontline. I normally like their reporting and insight, but cannot agree when it comes to this commentary. As a child growing up during the 80's, my mom deposited $50 bucks for me from my great grandparents when I was really young. Bank of America decided it would be perfectly rational to steal $3 from my account each month in a free kids account without sending a statement until my child account was penniless. My mom went in to find out about the account was pilfered and was told "tough luck" The bank took my $50 bucks to pay its already overpaid bankers additional undeserved filthy lucre.

The documentary tries to make it seem that Bank of America was forced into a bad situation with Merrill Lynch. With the already added disastrous merger with Countrywide earlier it put BofA into a poor capital position. I think the documentary writers want everyone to feel bad for Ken Lewis. It's not his fault Bank of America is in a bad position now. Cry me a river, seriously!

I hope the corporation burns down! I hope it fails in the worst possible way. I hope every single employee loses their job, and every shareholder of the corporation loses every single cent invested in the corporation. The company was built on filthy lucre and deserves to fail miserably for all it's negative karma it's built up over the years. In my humble opinion, of course!

As a sidenote, in violation of US law I tried to cash payroll checks a few years back drawn on Bank of America accounts in a branch of the bank and was told they charge $5 to cash their own checks. In California it was a violation of law as it is in the rest of the country. Their regulator (the comptroller of the currency) decided it was ok for them to break the law. They are too big to abide by silly laws. The regulator, referred the legality of the issue back to the bank's own internal legal team. Oh, that's effective regulation of the company.

I hope and pray Bank of America fails completely and utterly before the end of this second great depression!