BOA acquired ML during GFC. They are known also as Bank of America-Merrill Lynch (BofA-ML)
Correct, there is nothing one can do.
To me it seems that some (if not all) of Philip Mathews' bets have gone sour. Mathews Capital is heavily invested in the resources and energy sector. Hedge funds borrow over and above their holdings. How they do this I don't know but I do know hedge funds can borrow up to 10 times the value of their holdings.
DTE Price at posting:
26.4¢ Sentiment: None Disclosure: Not Held