I Just Have One Question for Ken Lewis

Bank of America’s CEO, Ken Lewis, did an interview today with Fox Business News. Zerohedge has the transcript.

My favorite part:

On differences between Bank of America and Citi:
“I don’t want to bash Citigroup, but there are some striking comparisons. First, I mentioned our core deposit levels. We grew our deposits $42 billion last year. We didn’t have a loss of deposits. We made $4 billion last year after tax. We didn’t lose money. So there are some striking differences. And then finally, when we were asked to go to Washington and asked to take $15 billion of the first TARP money, we had just raised $10 billion in common. We didn’t need more money. We did it for the better good. I feel like I’m living the saying, ‘no good deed goes unpunished’ because it is not a fair comparison.”

I just have one question: if BAC didn’t need the initial TARP funds, and just took them for the greater good of These United States, then why the fuck did the government need to come in and backstop $118 BILLION of their crappy assets? Was that for the greater good too Mr. Lewis?

Seriously… Anyone? Bueller? Bueller?


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