BofA trades hid billions in debt: report
Bank of America told federal regulators that it made six trades from 2007 to early 2009 that led to it hiding billions of dollars of debt. Bank of America made the admission in an April letter to the Securities and Exchange Commission. The bank had acknowledged in its last quarterly report that its accounting for the deals, at quarter-ends from 2007 to 2009, was incorrect. The letter has been posted as a regulatory filing.