Top Stories
December 02, 2009
By Dimitri Kanellopoulos, BuyActive.com
CHARLOTTE, N.C. (BuyActive) - In a surprise announcement today, Bank of America became one of the first major banks to plan to repay the TARP funds.
Outgoing CEO Kenneth Lewis was always commited to this acomplishment but now it will become a reality.
Bank of America plans to repay the 45 billion dollars it got through the bailout program during the financial crisis by the end of this year.
Shares of BAC closed higher today after hours but while some believe this shows strength, others believe repaying the funds so quickly
is a risky move since the sector is not yet stable.
Personally, I believe that people should start investing in financials as a way of balancing their portfolio since this sector will continue
to grow in the near future.
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