Shannon Stapleton/Reuters
- A US debt default is still an uncomfortable possibility, according to BofA CEO Brian Moynihan.
- "You hope it doesn't happen, but hope is not a strategy – so you prepare for it," he warned in an interview with CNN.
- BofA has been warning for months of a recession that could drag earnings and the economy down.
Prepare for a US debt default and a recession that will drag down corporate earnings, according to Bank of America CEO Brian Moynihan.