Bank of America Chief Sees the Economy Bottoming

Bank of America (BAC) CEO, Ken Lewis, speaking Wednesday at a conference in London said the worst of the economic downturn has likely passed and that conditions will not worsen as much as feared.

From Reuters: “We are on the cusp of what will turn out to be a slow but sustainable economic recovery,” Lewis said at a conference in London. “There will continue to be a lot of pain … but I think the worst is most likely behind us.” He projected modest U.S. and European economic growth in the second half of 2009.

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