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  • RBS - Preferred Tender Announced [View instapost]
    I am former holder of Pr-l sold at 16.25 sustaining a considerable loss. My logic in selling was that L was so far down the waterfall that they probably wouldn't be bought by RBS that combined with their stated intent to cut the dividend (if possible) I got scared and hit the exit. A major consideration in selling was my belief that the bank is controlled by a socialist government and generally socialists believe taking from the rich and giving to the poor is "good". Most holder of RBS preferred would be considered "Rich". Today RBS-L is less than $14.00 and weak.
    May 7, 2010. 12:33 PM | Likes Like |Link to Comment
  • Royal Bank of Scotland - Time to Buy Preferreds? [View article]
    I am holder of Preferred L and need guidance on the best course to take regarding tendering. Is there a smart way to proceed. If I take the $16,25 they are offering I will get a pile of money and have no place to invest it at anywhere near the current rate. However if they can find a way to omit the dividend I am sure they will do it. So where is the smart money going????
    Apr 12, 2010. 11:54 AM | Likes Like |Link to Comment