/bin/sh does not read profile

[Peter Steele]

>I first wondered why none of my commands in "/etc/profile" and 
>"~/.profile" got executed. Finally, I modified 
>"/usr/src/bin/sh/main.c" to trace what files are read, recompiled 
>the "sh" command and: the only file that is executed is "~/.shrc". 
> 
>I just cannot believe that FreeBSD has such a severe bug. What is 
>going wrong here? 

I have a similar problem, but with bash. I have both my personal account and root set to use bash instead of sh and when I login the .bashrc file is not read. My system does not have an X environment, it's plain old BSD. How can I get it to load .bashrc when I login? I'm using a 7.0 binary release.