The following video is from this week's MarketFoolery podcast, in which host Chris Hill, along with Jason Moser, Michael Olsen, and Joe Magyer, discuss the latest business news. Executives at Bank of America reportedly knew the 2008 acquisition of Merrill Lynch would be far more costly than they let on to investors. Will the revelations matter to shareholders? In this segment, the guys analyze Bank of America's reputation, as well as other big banks like Goldman Sachs and JPMorgan Chase. The guys also discuss whether, with shares down nearly 40% over the past year, Bank of America is a value play or a value trap.

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This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.