Bank of America paying back $45 billion bailout fund
That's good news.
That's good news because it must mean Bank of America is finally
getting back on it's feet again. It must mean they are doing much
better now than before financially and their business is getting
better. Right?
President is happy because unemployment rate is ONLY 10% and economy
is getting better everyday!
Yippy!
Wrong!
According to The New York Times, BoA is paying back because they
don't want nosy government questioning BoA.
One example could be that BoA need new CEO since Ken Lewis, current
CEO, is about to retire and they feel they must offer much more
money and benefits than government would permit in order to bring
in qualifying CEO candidate.
So, this is reason why BoA is paying back?
They want to get rid of government control so they can pay much
more salaries to their executives?
Humm...
Seems like smart thinking.
NOT!
Source:The New York Times
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