A pro has weighed in on Bank of America's communication's woes. Former White House spokesman in the Bush Administration Tony Fratto says essentially that Bank of America bungled what could have been a golden opportunity. If it had only been completely transparent at the time of the Merrill Lynch acquisition about the bonus plans and the condition of Merrill Lynch, it might have had a better outcome.

"Bank of America officials should have better understood the environment they were in--one that allowed for complete transparency. Fear of a total collapse of the financial system created enormous leeway for the public airing--and resolving--of all dirty laundry. Regulators and investors had incentives aligned to work through nearly any obstacle to Bank of America's acquisition of Merrill." A better PR strategy certainly could not have hurt it; it might have really helped. 

For more:
- here's the commentary on CNBC

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