With Trading Gaffe, BofA Deals With New Black Eye

Bank of America Corp. (BAC) Chief Executive Kenneth Lewis once referred to the acquisition of Merrill Lynch as "the strategic opportunity of a lifetime." He might now be reconsidering.

The Charlotte-based bank confirmed Friday it discovered a trading irregularity during a recent probe into Merrill Lynch's trading positions in London. BofA did not quantify how much money might have been lost.

The disclosure is the latest black eye for Lewis since he agreed to buy Merrill Lynch as the credit crisis flared last year. The agreement rescued the troubled brokerage from the kind of collapse that toppled Lehman Brothers ( LEHMQ), but has caused Lewis one headache after another since the Sept. 15 agreement was made...

CNN Money: With Trading Gaffe, BofA Deals With New Black Eye