Politics

Out of context: Reply #6382

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• TheBlueOne0

  Last week:

  "NEW YORK (Reuters) - Bank of America Corp Chief Executive Kenneth Lewis said the largest U.S. bank wants to start repaying $45 billion of federal bailout money next month, after completing a government stress test, the Los Angeles Times reported on Wednesday.

  Lewis had previously said he hoped to pay back all of the money Bank of America took from the $700 billion Troubled Asset Relief Program as soon as later this year, without saying when repayment would begin.

  Today:

  "Ken Lewis from Bank of America (BAC) doesn’t seem to be able to run away from last month’s promise to repay TARP funds fast enough.

  In his latest media appearances, including an interview on CNBC, Lewis said that BofA would repay taxpayers for the $45 billion in TARP proceeds his bank received. Eventually.

  But he quickly added that the economy will have to rebound. And then several quarters will have to pass."

  TheBlueOne 0Permalink

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  • yea, dude had to be pretty optimistic when he deposited 700 billion.. that'll happenBonSeff
  • maybe they'll mix in a bake sale or someting.. they have a lot of branches..BonSeff
  • BoA didnt borrow $700billion. They borrowed $45b which came from the $700 billion TARP program.Josev

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