Bank Of America CEO Lewis: We Can "Make It Through This Downturn On Our Own"

[babylonsister]

So does this mean he'll give back the $45 BILLION he 'borrowed' from us? Maybe he should share what's in his off-shore accounts while he's at it? :grr:


Bank Of America CEO Lewis: We Can "Make It Through This Downturn On Our Own"

Huffington Post | Nick Sabloff | February 21, 2009 11:44 AM


With his company's stock sliding Friday, Bank of America CEO Kenneth Lewis pushed back strongly against talks that the company may soon be taken over by the Federal Government.

From Bloomberg News:

Bank of America Corp. Chief Executive Officer Kenneth Lewis, under siege from investors on concern the company may be taken over by the U.S. government, said he doesn't need any more federal assistance and can "make it through this downturn on our own."

Lewis, speaking in a memorandum to employees yesterday as his stock price plummeted as much as 36 percent, said he aimed to "prove cynics and critics wrong" by spurning attempts at nationalization. Bank of America, the biggest U.S. bank by assets, has already received $45 billion in bank rescue funds.

Read the full memo via the Wall Street Journal.

In its introduction to the memo the Journal notes that "Bank of America's shares hit an intraday low of $3.19 a share today, a level not seen since August 2, 1984, when the bank traded at $3.17 a share." Bank of America's closed the day down 3.6 percent Friday.

more...

http://www.huffingtonpost.com/2009/02/21/bank-of-america-ceo-lewis_n_168808.html

[fascisthunter]

1. Hey Kenneth Lewis... Use another Logo without the American Flag

how about a a-hole with your face poking out?

[anonymous171]

2. This is why marches on their mansions are needed.

We need to put the fear of the masses back into them.

[L0oniX]

3. Hey Kenneth ....go f*ck your self!

[leftstreet]

4. This would make a good mug shot

[TahitiNut]

5. Poor fellow! I guess the idea of only being paid $500K/year improved his opinion of BofA.

Funny how that works. :eyes:

[madrchsod]

6. trading at 84 levels?

looks like the system is purging itself of reagan economics....

[Fleshdancer]

7. It's like watching the captain of the Titanic pour buckets of water overboard

while manically claiming the ship won't sink.

Good luck with that Ken.

[indepat]

8. Just bought 300 shares of BAC on Ken's assurances: if I lose the entire investment,

Ken will be asked to make me whole. :P

[no limit]

9. I'm gonna go search my car and sofa for some loose change then I'll buy 300 shares too!

[indepat]

10. A little loose change should prove sufficient

:P