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Lewis: Yes We Raised Interest Rate On Credit Cards -- After Taking Bailout Money
Here's another good exchange, this one between Rep. Maxine Waters and
Bank of America's Ken Lewis .
In one moment, Waters -- a longtime foe of rapacious lending practices, asks the CEOs whether, after receiving taxpayer money, they increased the interest rate on the credit card holders.
Lewis admits his firm did....
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Josh
Zachary
I dunno... i listen to the Waters' vid and, to me, the witnesses don't understand what she's asking half the time, or are not allowed to answer the questions completely, and the good Congresswomen just keeps going along choosing her own answers to her own questions...
February 11, 2009 8:38 PM | Reply | Permalink
I have to agree with Liz - I don't think anyone understood her questions. Frankly, I agree with Maxine Waters a lot more than I agree with anyone working at Citi or BoA. That said,I watched the video twice and I don't frankly have any idea what she was talking about on a couple of occassions.
February 12, 2009 7:57 AM | Reply | Permalink
Maxine waters probably could not fill out a deposit slip without the help of a congressional aide. Her questioning was a total waste of time. kind of funny she used some of the time of the next guy!
February 13, 2009 7:31 PM | Reply | Permalink