Whoops, Bank Of America Says Merrill Loss Even Worse Than First Thought


Merrill Lynch actually lost $15.8 billion in Q4, about $500 million more than what Bank of America (BAC) announced last month. The original loss was pretty stunning in and of itself (so whatever, maybe $500 million isn’t such a big deal).

If anything it just confirms that nobody, least of all Bank of America, had much of a handle on Merrill’s books. They still may not.