Over the past week or two, the internets have been abuzz with a short video clip of two paunchy guys in white oxford shirts and ties doing an acoustic rendition of U2's early-90s classic, "One" with alternate lyrics celebrating Bank of America's purchase of MBNA at the latter's Delaware headquarters.

For such an innocuous if laughable clip, there have been some fairly bizarre repercussions that are worth looking at:

On the one hand, those spoilsports over at Universal Music Group have issued a cease-and-desist alleging that BofA is actively marketing itself via the online video, thus abusing U2's copyright. The story even made today's New York Times. Once again, the giants of the music industry demonstrate their complete lack of understanding of viral media and the internet.

A far more appropriate response to such hamfisted and corny corporate cooptation of pop culture was a rendition of BofA's version of "One" performed on November 18th at New York's Bowery Ballroom by comedian David Cross and former Smith's guitarist Johnny Marr. The duo performed the ditty to rapturous applause and laughter from the crowd, all of whom were apparently well aware of the original song and it's new financial remix.

Earnest to a fault, the BofA clip has drawn more than its fair share of mockery, not to mention the threat of legal action. But at the end of the day word certainly has spread about BofA's business dealings. Having garnered extensive coverage from all manner of blogs, traditional newspapers and viral video sites, BofA seems to have proved true(willfully or accidentally) the words of PT Barnum: there's no such thing as bad press."

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