Apparently it is irrelevant that Lief just had the Treasury prevent a bank's collapse with $30 billion.
Anyone there?!
In fairness, PS, that fact was somewhat buried in the story (one sentence in the middle of several paragraphs). After skimming the story yesterday, your post made me go back and reread it to pick that nugget out. I suspect I'm not alone there.
That said, I care PS. :-) I would like to know if the Treasury "funding" provided was merely loan guarantees or an actual infusion of federal cash? Either way, but particularly if the latter, what compensation are the taxpayers getting in return? Is the fed swapping stock for cash, and if so is it preferred stock in case Eagles Bank assets prove insoluble? Further, is the Lief Administration proposing additional regulatory reforms to avoid repeats of this incident? Will the financial community's (or at least J.P. Colin's) support of such reforms be expected in exchange for this federal bailout?
Inquiring minds want to know! Answers should be demanded!
