What's the benefit for BofA?
The benefit, dear TBG, is that BoA drives itself bankrupt and leaves me pissed off dealing with the FDIC. A kind of farewell "Fuck You" from my grand ol' bank. Conservatives want live babies so they can raise them to be dead soldiers. - George Carlin
As I understand the deal is contingent on an analysis of Merrill's balance sheet. So if Merrill is an empty shell, BofA gets to walk away.
The plan seems to be that there's still some real value there, somewhere.
Also, big boss of BofA seems to enjoy shopping.
