Wednesday, May 9, 2007

Bank of America's Lewis Says Credit Markets Are a `Bubble' That May Break

(Bloomberg) -- Bank of America Corp. Chief Executive Officer Ken Lewis said a so-called ``credit bubble'' is about to break after six years of historically low interest rates and relaxed lending criteria.

``We are close to a time when we'll look back and say we did some stupid things,'' Lewis said, speaking at a lunch at the Swiss-American Chamber of Commerce in Zurich. ``We need a little more sanity in a period in which everyone feels invincible and thinks this is different.''


Read more at Bloomberg Bonds News

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