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Thursday, April 2, 2009

Bank of America (BAC) CEO Lewis changing his tune?

Lewis reiterated his desire to return the TARP money as soon as possible but says it may take several quarters before they can do so.

Bank of America won’t need to raise additional capital “under any standard we’ve seen before,” Lewis said.

This statement bears further scrutiny.  “Under any standard we’ve seen before” is a new qualifier for Lewis.  I believe it implies Bank of America will need to raise capital due to the new stress test standard.

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