“In the 12 months since the government first made its investment in BofA, our company originated $760m in new credit.”This is a ridiculous result given that government has earned USD 3.6bn in dividends for its one year-investment in BofA. This case clearly documents that although government capital injections may be necessary, they are by no means sufficient to kick-start new business lending and the economy. Success crucially depends on the terms of the government's assistance.
Samstag, 5. Dezember 2009
Government bailout plans failed to kick-start lending
The FT reports that Bank of Amrica (BofA) is about to repay USD 45bn in TARP funds. Ken Lewis, CEO of BofA, concluded
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