I should know

Increased Government Investment in Banks?

mik123
Nov 04 08:47 AM

If TARP states the money can not be used for acquisitions and can only be used for lending as Barney Frank stated Friday, I don't see how there will be regulatory approval on the PNC -Nat City deal. That's probably why you haven't heard of any other deals. National City can stand alone and save thousands of jobs. TARP was passed to help National City. Blah, blah, blah. . .

Call Latourette, Barney Frank, Sen Shumer and your local house and senate representatives and demand National Citys share of TARP. Blah, blah, blah. . .

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YEA, Barney Frank, there’s a pillar of credibility and knowledge. I think he is one of the miscreants that got us into this mess. Yea, call Barney, call bleeding-heart Shumer, see what those two nincompoops can do for you.

Sorry about the National City stocks you bought on the “recommendation” of 10 or so nitwits.

The Trouble with Rescues and Stimulus

Wells Fargo’s Chairman, Dick Kovacevich, was fit to be tied at the meeting with Bernanke; he did NOT want to sign the documents giving the Feds any ownership or “say” in Wells Fargo & Co, he did NOT want the money.

It took the rest of the CEO in attendance, especially Ken Lewis, to convince him to “go along” with the plan “for the good of others”. He was told that if he decided to “op-out” he would look like he was “un American”. He and the others were told by Bernanke that “they had little to say about it”, if they didn’t take the money and sign the agreement THAT DAY, they would suffer the consequences (in so many words). Treasury Secretary Henry Paulson basically told the bank CEOs that they had to accept the government stock purchases for the good of the U.S. economy.