The "only sane way" to fix Bank of America (BAC) so that it is "restructured, ready to support...

|About: Bank of America Corporation (BAC)|By:, SA News Editor

The "only sane way" to fix Bank of America (BAC) so that it is "restructured, ready to support growth [and] support leverage" is through a classic Chapter 11 bankruptcy, Chris Whalen says. His point: Countrywide's bond trusts are worthless, and BofA is on the hook for them, so while its subsidiaries are well capitalized, the parent company is bust.