Free Republic

Rich executives once courted by Bank of America Corp. are proving to be a big headache, Monday's Wall Street Journal reported. In the last year, the bank has run into problems with loans made to executives such as Bernard Ebbers, Samuel Waksal and the Rigas family. Now, it appears a loan to another wealthy executive has resulted in a big financial hit. In the second and third quarters, Bank of America's private bank charged off $ 261 million in loans to a family investment firm controlled by Oklahoma telecommunications executive Everett Dobson, essentially declaring the loans uncollectible. Mr. Dobson was...