They did a horrible job in that area. Countrywide was a mess, and BofA didn't see that.
I'm amazed they failed so big in their due diligence. Any of us who work in the industry knew that Countrywide was cutting corners.
BofA actually was pretty boring in a good way.
What kind of "due diligence" can you get if the same gov't that regulates you, would investigate you, would charge you, tells you to buy a company to stop a financial meltdown in progress?
It still amazes me so few have gone to prison or faced civil penalty.