Just to to keep a record of..
According to Ken Lewis:
- Country wide business is “on fire” in a positive sense and is really booming because of refinancing
- Trading in Merrill Lynch is doing fine, business is good in the investment banking. Especially through equity offering and debt placements.
- Credit cards are not deteriorating anymore in terms of past dues, but unless unemployment rate decline it is going to be a an issue.
- PPIP: BAC’s bad assets are infact close to fair value and are not considering to sell a lot of it. (Not much incentive for banks to participate on the sell side)
“Common theme amongst investors, get the government out of your business as fast as you can and that will be our first goal” – Ken Lewis
Source: CNBC
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