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Post# of 735295
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JohnnyWinter

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JohnnyWinter

Re: The Godfather post# 118727

Friday, 11/06/2009 1:24:38 PM

Friday, November 06, 2009 1:24:38 PM

Post# of 735295
The bank was seized because of the outflow of deposits that put them in an "unsafe and unsound condition".

That's all that needs to be said about that as regulators can, and will, stand behind that.

Now people can try to claim that the seizure was illegal, but as far as the regulators ability to seize the bank, they had every right to do so.

FYI, the OTS seized the bank and placed it in the receivership of the FDIC.

Numbers don't lie, people do.

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