BofA's Ken Lewis Sees Crisis 'Abating', But Says Banking Has 'Some Way to Go' to Recover
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Speaking to investors and analysts at the Bank of America Merrill Lynch Banking and Financial Services Conference, BofA's (NYSE: BAC) Ken Lewis has made some interesting comments:
- believes the financial crisis is "abating" and that the "long recession" is finally coming to an end
- believes there is reason to be "cautiously optimistic", but calls the recovery "very fragile"
- sees "some way to go" for banking to recover
- BofA is keeping its "head above water" this year
- calls the banks capital position "more than adequate"
- sees rates rising in 2010
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