Posted on 01/20/2009 5:44:29 AM PST by TigerLikesRooster
Ping!
Ah, the dhimmi-deluded spend policy is in a full spin.
Of course, those of us with measurable IQs knew this.
Only the MSM and politicians of both parties still believe in Keynes.....those who flunked math 101.
Can we let them really fail this time?
I suppose I need to start keeping my eyes out for a nice refrigerator box...
Shares in Royal Bank of Scotland collapsed almost 70pc after the bank warned its 2008 losses may reach £28bn ($41.0bn), raising fears it may eventually face full nationalisation.
I'm looking at microwave ovens but, I expect for a different reason.
I think a microwave box would be a little small.
;)
...thanks for the post T.L.R. .....my bank is small and my knowledge of banking is weak...could some of you bankers look at my bank’s announcement and tell me what participation in the Treasury Capital purchase program means?...thanks
Yes, Yes, Yes and again YES!
A couple things are going on as we slowly move towards nationalizing our banks. We are subsidizing bad decision making and failed business plans by bailing them out. Also, with the money they get these failed institutions are able to offer better terms and rates than local or regional banks.
The significance of the unfair competitive advantage with govt having an ownership interest (fascism) is that the better run banks that stayed away from the govt created sub prime mess will be pushed out, or bought out by the poorly run banks. IOW, competent conservative mgmt of money will be replaced by incompetent, unethical, govt connected thieves.
I don't know about you, but I do not want to look back in 20 yrs and wonder why I thought giving up my freedom to win or lose in the mkt place was a good idea. Once the govt controls the distribution of private capital your freedom to suceed will be replaced by govt oversight.
Paul Krugman and the Nobel Foundation still believe
Guess that means all the wonderful management for the past ten years really earned all of those LARGE pay checks. Probably need to have those bonuses doubled out of tarp.
Actually a nine year old kid could have done a better job.
The announcement is just saying that Yadkin Valley was accepted for a TARP investment. The bank is selling $36 million of preferred stock to the US Treasury. They’ll have to pay a 5% dividend to Treasury for five years, then it jumps to 9%. Treasury also gets some warrants in the deal, basically options to buy some common stock.
Without knowing why the bank applied to TARP, it’s impossible to know exactly what this means for the bank’s future. If they’re in good shape and have expansion/growth plans for the money - it’s a good thing for them. If they need the money to plug holes, not so good.
The Yahoo headlines listing shows that Yadkin is in the process of buying another bank. Best guess is that’s where they’re going to use the TARP money.
According to the Yahoo Finance quote, Yadkin has been profitable over the past 12 months - a significant accomplishment for any bank recently.
If you’re a depositor and your deposits are covered by FDIC insurance, this isn’t anything to worry about. If you’re an investor, you need to dig deeper.
Get an apple box from Costco; they are bigger.
Sniff, sniff, boo hoo hoo. If these guys were so smart how come they made so many appallingly bad decisions?
What really rankles is the notion that these failing banks should use bailout money to acquire performing banks. The usual process in bankruptcy and consolidation is that the strong take over the assets of the weak at pennies on the dollar, not vice versa.
The very people who caused this mess are now firmly in control of the government and are going to spend us out of it usiing our own money. All that's needed is a few dozen trillion more taxpayer dollars spread liberally around to fix it. That should do it, right?
We're screwed.
Big enough for two people?!
Is it me, or were these not the “BiG BANKS”; the ones pushing hard for Illegal Immigration Rights?!
Was there a connection...?
IMHO there was.
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