One Creative Thought: Bank of America may get off hook for potent. $100 Mil

Is this sad or what? C'mon Floridians - get off yer duff and start calling your representatives!

MiamiHerald.com | 04/25/2006 | Bank of America may get off hook

The bank is being sued in Leon County's circuit court for allegedly running a decade-long scheme in which it failed to report unclaimed funds it accumulated during routine inter-bank accounting errors.
By law, those funds -- which plaintiff's lawyers say could amount to more than $100 million -- should have been turned over to the Department of Financial Services and Department of Education after five years.

In an earlier post I wrote this would be an interesting case worth following. How do you like the probable resolution of this potential violation? Too bad it doesn't work for all of us, huh? "Uh yes - members of the Florida Congress - we have a problem..."

Who had any idea it would go this way??

More interesting to me is what must have followed, ie - what moved the Florida legislature to do this?

Does BofA have an anvil over the state? Does BofA hold outstanding loan agreements that in some way could adversely effect Florida if BofA decided not to do business in Florida? Would it devastate Florida in such a manner or way that Florida could not recover?

Lets see where this goes... Hard to argue with $700 Billion (US) banks I guess... We have to keep watching this one - and of course, the $2 Billion (US) money-laundering settlement and of course, the Italian Job ($10 Billion US).