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BofA Mailbag: Readers React to Ken Lewis

Updated from 12:28 p.m. EST

Our story exploring whether investors should believe Bank of America (BAC - Get Report) CEO Ken Lewis' declaration of the company's strength elicited some strong reactions from readers.

Some questioned decisions that BofA has made or were angry at the company or Lewis. Others were confused about aspects of the article, or angry at for publishing it. We're giving them a platform to express these opinions, and for us to respond, through our reader mailbag.

The BofA Bulls

Dave A. wrote in to say he believes Bank of America is solid, with little exposure to risky mortgage assets because of government funding and a heap of revenue. He doesn't think the bad assets from the Countrywide or Merrill Lynch deals are significant enough to hurt BofA results in 2009 and believes that rampant criticism is "driving this market into the ground."

"Get a clue," writes Dave. "[BofA] will be profitable in 2009."

"Sincerely sickened" Brian B. struck a similar tone, saying that articles pointing out potential flaws or risks at major financial institutions "are what's driving this economy down." Instead, he says, reporters ought to "start focusing our articles on positive things and get this economy going."

Jim took issue with Roger Young's assertion at the end of the article that investors are safer waiting until bank stocks are on the rebound, rather than bottom fishing today, and perhaps losing the entire investment. While Young said that BofA would be a better buy at $5 -- when the market is more confident about its viability -- Jim wouldn't pay a premium for that faux assurance.
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