Mark Riddix

Dividend Cuts: Who's Next?

Excellent Points.


On Mar 05 06:25 PM philipmax wrote:

> I do agree with you, greedcanbegood, that there is a big difference
> between investment banking as conducted by Citi and JPMorganChase
> and plain vanilla banking such as USB and PNC. But the market isn't
> taking the time to differentiate .
> I have great faith in the "good banks" but they stood in line to
> get the TARP and I don't see them refuting the excesses that are
> attributed to the others.
>
> There is no doubt in my mind that the repeal of the Glass-Steagle
> act in 1997 was the ignition point for this debacle. It took ten
> more years of unabated greed supported by the total lack of supervision
> and enforcement to get us here.
> So, any bank that takes TARP money and reduces its dividend and still
> reporting large reserves for bad debt, is probably hiding some shenanigans
> in its balance sheet. And... Yes, the management should bear responsibility,
> either by resigning or by reducing its bloated pay scales. As to
> stock options, for what? Pray tell, for what? Why should we the stockholders
> have to suffer dilution of our equity (be it ever so small) at the
> expense of mismanagement.? I stand pat with my demands and would
> like to add that there ought to be some indictments coming soon or
> there may well be an unwelcome surge in "other" crimes in this country
> as the population reacts to injustice.