Bank of America, Wells Fargo Downgraded

March 26, 2009
By MoneyAisle

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According to Bloomberg, Bank of America Corp. and Wells Fargo & Co., "the biggest U.S. home lenders, were downgraded by Moody’s Investors Service on concern that they’ll need another round of government aid."

According to Reuters, "Bank of America Corp Chief Executive Kenneth Lewis said the largest U.S. bank wants to start repaying $45 billion of federal bailout money next month, after completing a government stress test."