After being bailed out at taxpayer expense, Bank of America continues to show poor leadership and the latest round of concerns over mismanagement have led to the Feds calling for a plan.
Today’s Wall Street Journal reports Federal Reserve regulators are requesting that Bank of America  submit contingency plans if its financial condition worsens. The newspaper reports “executives of the bank recently responded to the unusual request from the Federal Reserve with a list of options…”

BOA has consistently shown it cannot be trusted with its own depositors money and now it is showing it most certainly can’t be strutted with taxpayer money,” one bank analyst said Friday.
On Tuesday, reports broke that the Federal Deposit Insurance Corp.    is contesting BofA’s recent $8.5 billion mortgage securities settlement; US Bancorp    brought its own mortgage lawsuit; and Reuters ran a story saying BofA for months didn’t disclose the threat of an AIG lawsuit.
Also on Tuesday, US Bancorp    sued Bank of America    for more alleged troubles at Countrywide. US Bank says Countrywide sold its investors $1.75 billion in mortgage securities made with bad mortgages.
Finally, there’s a growing sense that Warren Buffett’s pricey deal to invest $5 billion in Bank of America    is not only a bad move for the bank’s shareholders, but signals the nation’s largest bank is in bigger trouble than previously thought.

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