The Bank of America is moving risky investments to subsidiaries which are insured by the FDIC in an attempt to have the American taxpayers bail out their poorly conceived gambling . See Bloomberg News http://tinyurl.com/3uoodmr
Normally this is prohibited under section 23A of the Federal Reserve Act but Bank of America has an explicit exception. See http://federalreserve.gov/federalreseract20100903.pdf
We petition the President to fully engage this problem, force the FDIC to price these assents to market prices, have the FDIC declare the BoA subsidiaries significantly undercapitalized, force a change of management and prevent BoA from profiting on their failures off of the American taxpayers.