Bank of America CEO sees economy bottoming in 2009

While he's seeing mixed signals, Bank of America Corp.'s chief executive says he expects the U.S. economy to bottom in the second half of this year, and he doesn't anticipate the government to ask the company to raise more capital.

In a wide-ranging TV interview on CNBC, CEO Ken Lewis -- who spearheaded Bank of America's controversial acquisitions of Countrywide Financial and Merrill Lynch at the height of the recent credit crisis -- also said that the Charlotte, N.C.-based company remains willing to work with customers to avoid mortgage foreclosure and that tens of billions of the bank's capital remains tied up in reserves for losses on consumer loans such as mortgages and credit cards.

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- Posted: 2009-04-02 08:48:33

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