BB&T Bank: One I can believe in
May. 2nd, 2009 11:04 amhttp://writerspleasure.livejournal.com/606539.html
I picked this up here, and then discovered that the Volokh Conspiracy guys also had a piece on it:
http://volokh.com/archives/archive_2009_04_26-2009_05_02.shtml#1241223446
After seeing the mauling the bondholders of GM and Chrysler are getting at the hands of the government in order to transfer wealth to the unions, and noting that the first to cave among the large bondholders are the TARP banks, we want to get as far away from both TARP and the unions as possible. BB&T Bank looks like the place. We had just withdrawn some of our retirement funds from bonds held by two of the reluctant recipients of TARP funds...now we know where to put them.
UPDATE: I see that Atlas Shrugged is still on the Amazon bestseller list, currently at #46, and has been on the top 100 for more than two months.
UPDATE II: I see BB&T took $3 billion in TARP funds. Coercion, perhaps? Their release about it takes pains to note that they were nicely capitalized without it.
I picked this up here, and then discovered that the Volokh Conspiracy guys also had a piece on it:
http://volokh.com/archives/archive_2009_04_26-2009_05_02.shtml#1241223446
After seeing the mauling the bondholders of GM and Chrysler are getting at the hands of the government in order to transfer wealth to the unions, and noting that the first to cave among the large bondholders are the TARP banks, we want to get as far away from both TARP and the unions as possible. BB&T Bank looks like the place. We had just withdrawn some of our retirement funds from bonds held by two of the reluctant recipients of TARP funds...now we know where to put them.
UPDATE: I see that Atlas Shrugged is still on the Amazon bestseller list, currently at #46, and has been on the top 100 for more than two months.
UPDATE II: I see BB&T took $3 billion in TARP funds. Coercion, perhaps? Their release about it takes pains to note that they were nicely capitalized without it.