Clarifying a comment he made earlier today on his way to a meeting in Washington with President Obama, BofA’s Chief Executive Officer Ken Lewis said he doesn’t advocate a legal division of commercial and investment banking and that his comments about separating the two referred to rhetoric and public perception.
“I was talking about the rhetoric, not physically separating the two,” Lewis said in an interview with Bloomberg Television. “We have an investment bank, we have a commercial bank as well that is the fabric of every community in which it operates.” [Bloomberg]
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