Following the news that Goldman Sachs (GS) wants to repay TARP next month, Bank of America (BAC) CEO Ken Lewis tells the LA Times that his bank will start the repayment process next month, as well.
The embattled CEO says the repayments will begin as soon as the government does its stress test. Just last week he was talking about repaying the TARP at the end of the year or in 2010, so it sounds like this would accelerate the plan, a little.
Ken Lewis says Bank of America (BAC) is quite profitable and he wants to start repaying TARP right away. Pshaw. Oppenheimer analyst Chris Kotowski -- who's obviously trying to fill the shoes of his predecessor Meredith Whitney -- sa... Read Post
CNBC is reporting that BofA is set to repay its $45 billion in TARP cash, and that it will raise capital in the next few days. This is likely Ken Lewis's last act as CEO, as de-yoking itself will allow a new CEO to come in and start... Read Post
The brave show of confidence continues, as Bank of America (BAC) CEO Ken Lewis say his bank will be healthy enough to repay all $45 billion in TARP loans by late this year or perhaps 2010. In an interview with the Charlotte Observer... Read Post