I’ve been monitoring them closely since things started looking a little crazy in the spring of 2008. I’ve not seen anything to indicate a problem.
I don’t like getting this thing on a Friday, either. But, that could have been coincidental.
Since they are member owned, they can’t sell stock to raise capital. It sounds like they are misstating the nature of the accounts to reduce their reserve requirements. And I wouldn’t consider that to be a good thing. While I’m not suggesting that they are doing anything illegal, it doesn’t sound like something they would be doing if they didn’t have to.