NEW YORK (AP) - Bank of America Corp. Chief Executive Kenneth Lewis says the $25 billion the government is injecting into his bank will be put to work making loans and will be paid back at the latest in five years.
In an interview aired Sunday on CBS' "60 Minutes,'' Lewis confirmed that top executives were given no option last week when Treasury Secretary Henry Paulson unveiled a plan for the government to pour $125 billion into nine major banks.
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