Comments on: Everyone has a price

by: 773H HO

Wed, 29 Oct 2008 21:45:00 +0000

On the other hand, maybe all of the money should go to banks that are successful. I mean, why reward the banks that are doing a lousy job.

You would not reward your children by giving cookies to the ones that misbehave and give a lump of coal to the ones who are behaving.

by: Doug

Wed, 29 Oct 2008 17:46:32 +0000

It looks as if BB&T did pursue the money and was not required to take it. First Citizens for example did not take the feds up on the offer. Good for First Citizens.

by: Doug

Wed, 29 Oct 2008 13:28:50 +0000

I too have admired BB&T and the way they have run their bank for many years. I sold major software products to all of these banks in NC and the country for 30 years and they were always a well run outfit even if that meant they didn’t buy everything I offered (and probably because they didn’t).

Their announcement about the Kilo decision was an incredible breath of fresh air. However, I am not sure I’m ready to throw them under the bus on this $3.1 billion stock sale. With the passage of that $850 billion bail-out aren’t these banks required by federal law to allow the government to buy shares of their stock? Was their any reasonable way to refuse it?

by: Brunette

Wed, 29 Oct 2008 13:25:17 +0000

Now hold on there, Dan. You don’t know that 3.1 billion was the price of Allison’s convictions.

For all you know he sold out much sooner, much cheaper.

I just hate to give a person credit for holding out on convictions until the big bucks are produced when it’s entirely possible that he sold out his convictions eons ago for the price of a used copy of Atlas Shrugged.

by: mikey

Wed, 29 Oct 2008 12:13:40 +0000

Principles are one thing. Looks like 3.1 billion Yankee dollars is another. So the Federal Imperial US Government now owns a piece of BB&T. God help us! I can see some bureaucrat at a stockholders meeting pressuring the board to loan money to some clown that can not repay it. It could be your retirement dollars in a BB&T certificate of deposit. It could be your kid’s college fund. The Government is taking advantage of a financial panic to buy private sector banks. Is this just a precursor to a socialist takeover? Is there anyplace outside of that mayonnaise jar in the back yard that’s safe to keep your money?