Oopps not so fast fred. I provided documented proof in the banks 2009 annual report that United management decided to pull their TARP application at the 11th hour. Not one word about being "rejected" was ever uttered in any public report. An 8k was never produced.
As a shareholder I am fully within my rights to be informed that 1) the bank was told by Uncle Sam to raise their capital ratios asap...2) Uncle Sam, in the face of EXTREME taxpayer opposition, was willing to offer that capital at very favorable terms and 3) my management team said thanx but no thanx.
Show me fred where that was ever put out for the shareholders to see and consider. Information of that magnitude is a must in order for shareholders to win on Wall St.
Once UWBK decided to go it alone they put regulatory wheels in motion nobody was equipped to deal with...bs tried and gave up...and here we sit 4 years later with nothing but a dead company laying in a morgue on Wall St with a cusip number on the toe tag. It's a big morgue...United isn't alone. Other cases have to be finalized before United gets an official burial. The FDIC is in no hurry.
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