"While all financial intermediaries are being impacted by liquidity issues, this is primarily a bailout of poorly run financial institutions," Allison pointed out in the Sept. 23 letter. "It is extremely important that the bailout not damage well-run companies."
Few would disagree that BB&T, which operates in 11 states in the South, mid-Atlantic and Washington, D.C., is a well-run company. The bank saw its total assets jump from $4.5 billion to $152 billion under Allison's stewardship. Its share price skyrocketed to its all-time high of $44.63 on Dec. 27, 2006. The stock is currently now trading at roughly $18 a share.
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