BofA's (BAC) Lewis Said "We Absolutely Don't Need Additional Capital"

On its conference call, Bank of America's (NYSE: BAC) CEO Ken Lewis said, "we absolutely don't need additional capital."

SI NOTE: If the government believes this, after analyzing results of the stress tests, is a different story. Today, reports in the New York Times hinted that banks may in fact be in need of capital and instead of giving cash they would convert the government's preferred shares into common shares.

Get Real Time, Market Moving News Free For 2-Weeks http://www.streetinsider.com/premium_content.php

You May Also Be Interested In

• SEC accuses ex-BofA senior banker Satsky of insider trading - Bloomberg
• BofA says CTA Treasury shorts stable, euro short-cover risk rises
• BofA tracks building products sales momentum in second quarter