Friday, February 06, 2009

A Promise Is A Promise

No more welfare money for you.

Feb. 6 (Bloomberg) -- Bank of America Corp. Chief Executive Officer Kenneth Lewis said the lender won’t be nationalized and doesn’t need more capital support from the government.

The idea of nationalizing the bank wasn’t even a “remote possibility,” Lewis said in an interview today on CNBC television. He said “categorically” that the company won’t go back a third time for U.S. aid and that he “has the leeway” to manage the bank independently of the U.S.