Posted on 02/26/2009 9:11:54 PM PST by rabscuttle385
Sen. Lindsey Graham, who made a political splash by speaking in favor of bank nationalization, said this week that Charlotte-based Bank of America Corp. "has a very positive outlook."
That's a change from last week, when Graham said in an interview with the Observer that he doubted whether Bank of America would ever repay its $45 billion capital infusion from the government's Troubled Asset Relief Program, or TARP.
Graham has advocated that the government temporarily take over some of the banks that fail the Treasury's so-called "stress test," and he hinted in the Observer interview that Bank of America could fail the test. But Bank of America chief executive Ken Lewis said this week that the stress test won't pose a problem for his bank.
Graham, of South Carolina, spoke on CNBC's "The Kudlow Report," in an interview that aired Wednesday night. "I was absolutely crushed to hear you come out in favor of bank nationalization the other day," host Larry Kudlow told Graham, a Republican who is often an opponent of government intervention.
Graham replied that "the best thing to do" is to "keep every bank in the private sector."
"Bank of America is giving me great hope that we are going to have a recovery in the banking sector," he added.
(Excerpt) Read more at tradingmarkets.com ...
Grahamnesty ping.
We will see.
The lobbyist exert their power over America once again.
Will SC please retire this nutjob?
Go into any big or mid-sized city - Houston, San Francisco, Richmond, Charlotte, - and look at the skyline.
All the tallest buildings are owned by banks. Nobody seems to be working this into all the bankruptcy balance sheets. Looks like the government (i.e., we taxpayers) should be taking title to all these bank buildings, and the office rentals that go with them. Big revenue stream there.
Wow. Lindsay changes his tune from week to week. What a shocker. He and his behavior have become tiresome. At least I have ONE good Senator.
This from the senator who took one of the largest earmarks in the budget bill yesterday!!!!! Impeach the jerk!
I wonder if he took BoA’s word for it. Maybe they are right, but they showed really poor judgement in buying Merrill, who is accused of fraud in giving big bonuses after they knew they had huge losses.
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