Get Your Money Out Of Bank Of America

[MmmBeefy]

http://www.bloomberg.com/news/2011-10-18/bofa-said-to-split-regulators-over-moving-merrill-derivatives-to-bank-unit.html

Reason 1a why the Prudent Banking Act needs to be passed in a hurry.  

http://www.govtrack.us/congress/bill.xpd?bill=h112-1489

Bank of America just put your deposits in clear and present danger as a result of this action.  That derivatives book is essentially "junk" status and very likely in line for an unmitigated disaster to the balance sheet of the retail unit.  Unless you feel like trying your luck at FDIC insurance in getting at your deposited money, close your accounts ASAP.