Bank of America Repays $45 Billion

The Bank of America, as of Wednesday, had repaid entire $45 billion sum which it got from the government bailout plan earlier in the year. According to some, this is a sign that the economy is rising once again, because banks are now starting to actually stand on their own two feet. However, it seems that the money was paid back because the bank did not like the government restrictions which came with the funds. Apparently, the government rules where hampering the banks ability to select a new CEO, and without these government controls, this process could take the front seat for the bank. So far, a total of $116 billion have been payed back from the initial bailout, a sign that at least some of the companies are showing signs of growth and success. It seems that the criticized bailout has actually done something positive for the economy, as shown by this move of repayment. Banks are beginning a new era of management, hopefully, and will learn from the governmental which were place on them for a time. The link to the article is here.