Yep, the "Bible Code" is bunk, though I've had some professors who believe in it (it's a Baptist college, what do you expect?).

Here's another that was found in Robert Jordan's "The Great Hunt" (the title proves to be rather coincidental), part of the Wheel of Time book series:

"When the towers fall
a bush will catch fire
the killers will then
have no place to hide"

Just proves, you can make any large body of text say anything.