Killin' time at work I read an article (was link from a link in the LOTR thread) that kind of explained Charlie's Angels and how it could get greenlit and what went wrong. Sony got reboot happy after Jumanji and Spidey hit it big, resulting in finally a sequel to Zombieland and a Bad Boys 3 in the works for example. Angles supposedly had such bad script problems from the start that all the A-List actresses they approached like Jennifer Lawrence, Emma Stone and Margot Robbie turned it down so they went low-budget on the cast. Nevermind that probably the only reason the first two "worked" was because they had big stars at the time in Drew Barrymore, Lucy Lui, and Cameron Diaz. Movie's release date got pushed multiple times, always a bad sign.
Sony apparently won't be too hurt financially because they likely suspected it was likely to bomb and brought in partners to cover half the production costs and they slashed the advertising budget on it ahead of release as well. Banks comments sound like a poor attempt at damage control.