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Posted on 01/29/2009 9:31:00 PM PST by 2ndDivisionVet
Rejecting a deal with the Devil.
Maybe I will move my accounts to one of these very shrewd institutions.
I see nothing wrong with this — only the banks in dire need would agree to those terms. As it should be.
I’m very glad to hear this. I’d like to know the names of these institutions, I’d be interested in putting my accounts there.
The names are in the part of the article at the link.
remember when paulson called the big banks into conference? and said, you will take the money.
only the ceo of wells fargo objected.
So when the government owns some of the banks, and the government sets the banking rules for all of the banks... are they going to play nice with those banks that didn’t drink the kool-aid?
I think there will be a few ‘fairness’ rules introduced into the banking rules that just happen to benefit government-owned banks.
The gubmint sets many of the rules now — for banks insured by the FDIC.
The gubmint also sets rules for food and drug safety, cars, toys, airplanes, broadcasting, etc. etc.
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They’re smart, like Ford. While rejecting Barry’s bail and control, they earn the respect and business of the American people.
Good. Not every bank is insolvent.
I agree. I need a new truck and Ford gets the nod.
From the article:
The following banks have announced they no longer planned to participate in the government-sponsored bank bailout program:
_ American River Bankshares, of Rancho Cordova, Calif., said it would not accept $6 million
_ Chemical Financial Corp., of Midland, Mich., said it will not accept $84 million
_ California United Bank, of Encino, Calif., said it will not accept $8.4 million
_ Dime Community Bancshares Inc., of Brooklyn, N.Y., said it will not accept $77.3 million
_ Dearborn Bancorp Inc., of Dearborn, Mich., withdrew its application for $29 million
_ Eagle Financial Services, Inc., of Berryville, Va., said it will not accept $10 million
_ First Capital Inc., of Corydon, Ind., said it would not accept bailout money
_ Friendly Hills Bank, of Whittier, Calif., said it would not accept $1.6 million
_ Glacier Bancorp Inc., of Kalispell, Mont., said it would not accept bailout money
_ Legacy Bancorp Inc., of Pittsfield, Mass., said it would not accept $20 million
_ Liberty Bancorp Inc., of Liberty, Mo., said it would not accept $8.5 million
_ Mechanics Bank, of Richmond, Calif., said it withdrew its application for $60 million
_ NBT Bancorp Inc., of Norwich, N.Y., said it would not accept bailout money
_ New York Community Bancorp Inc., of Westbury, N.Y., said it would not accept $596 million.
_ OptimumBank Holdings Inc., of Fort Lauderdale, Fla., said it would not accept $4.6 million
_ Pamrapo Bancorp Inc., of Bayonne, N.J., withdrew its application for $11 million
_ Pacific Continental Corp., of Eugene, Ore., said it would not accept $30 million
_ Smithtown Bancorp, of Hauppauge, N.Y., said it would not accept $37.8 million
_ S.Y. Bancorp Inc., of Louisville, Ky., said it would not accept $43 million
_ Tompkins Financial Corp., of Ithaca, N.Y., said it would not accept $15 million
There are still a lot of intelligent people in the US left running businesses, thank goodness. Once again, Chick Fillet chooses makes headline....they cut prices on their combos.....profits are up 4q 2008.
The Feds are trying to strong arm banks now to get them to take the money. It's a control issue not a liquidity issue now.
The Feds are trying to strong arm banks now to get them to take the money. It's a control issue not a liquidity issue now.
OR they handle their finances responsibly and earn the right to run their business as they see fit.
Good incentive pattern...
You take “daddy’s” money, you live by his rules...
Banks turning down money.
Time to break out the ice skates.
I guess there is hope for this country.
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