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JPMorgan pours cold water on the possibility Santander (STD) will take over M&T Bank (MTB):...

JPMorgan pours cold water on the possibility Santander (STD) will take over M&T Bank (MTB): "With Santander now taking its interest public, our view is that MTB is likely not a willing seller." With MTB one of the few banks that remained profitable throughout the crisis, it's got a "relatively strong position from which to exercise a desire to remain independent," firm says.
Comments (2)
  • 7footMoose
    , contributor
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    Could it be that JPM just doesn't want another large competitor for its retail deposits?
    18 Jun 2010, 11:28 AM Reply Like
  • KtgGroup
    , contributor
    Comments (140) | Send Message
     
    Well, I think STD is shrewdly buying into the next big housing-related growth industry: RV loans. MTB has a special division for extending credit to RV buyers....they were kind enough to do it for me (only 23 ft.). Imagine saving a handful of mortgage payments, dropping the house keys off at the respective (not necessarily respectable) bank, and heading off to live the life of freedom on the open road--or parent's driveway. Sponge electricity and water off friends, family, neighbors, or even the local park or shopping mall and drain the toilet tank into a nearby creek after dark. Besides, you may still be able to deduct the mortgage interest because the RV contains a bathroom, kitchen, and living space (consult your accountant first). It is the motorcycle of the sixties and early seventies, only it fits the whole family. Look at WGO's recent earnings....their average priced RV is 20% higher than last year at around $90k. These are not your campground campers, but HRVs (Home Replacement Vehicles). The industry also has its own version of TARP where major producers, such as THO, provide long term, big money loans to their biggest dealers. Cool, I want in on that and so does STD!
    20 Jun 2010, 02:05 AM Reply Like
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