[blam]

Article posted yesterday:

Law Enforcement Officials Searching Caterpillar Offices

[Sacajaweau]

Wasn’t Trump supposed to visit there and cancelled?

[petitfour]

The fallen SEAL’s dad retired from Caterpillar, I think I read. Not that he has anything to do with this.

[Night Hides Not]

Not exactly sure why the FDIC was there, unless Cat violated banking laws with any commercial loans they had outstanding.

I remember fondly being called in to analyze a proposed loan modification on a commercial loan. The borrowers wanted to reduce their $40MM loan down to $17MM. Within a few hours, I had numerous questions for the borrowers to answer (from a review of their tax returns). Within a day, they "revised" their request to $28 million, which was close to the FMV of the property.

The offer was accepted, as the FDIC's objective was to replenish the Deposit Insurance Fund as quickly as possible. When we closed that particular bank, a huge loss was estimated for that loan, which was delinquent at the time.