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U.S. Approves The Hartford, Lincoln National Bank Holding Company Bids
National News • January 12, 2009
The U.S. Office of Thrift Supervision said on Friday that it approved applications from Hartford Financial Services Group Inc and Lincoln National Corp to become bank holding companies, an ...
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| Subject | Posted By | Posted On |
|---|---|---|
| RE: RE: RE: RE: Hartford's Survival | iMod | Jan 13, 2009, 8:54 am |
| RE: RE: RE: Hartford's Survival | Big D | Jan 13, 2009, 8:17 am |
| RE: RE: Hartford Bailout | Just for fun | Jan 12, 2009, 6:49 pm |
| RE: RE: Hartford's Survival | Be Honest | Jan 12, 2009, 4:42 pm |
| RE: Hartford's Survival | Big D | Jan 12, 2009, 3:46 pm |
| Hartford's Survival | Be Honest | Jan 12, 2009, 2:25 pm |
| RE: RE: Hartford Bailout | Big Rewards | Jan 12, 2009, 1:59 pm |
| RE: Hartford Bailout | Wilbur Streater Jr | Jan 12, 2009, 1:04 pm |
| RE: Hartford Bailout | Crybaby | Jan 12, 2009, 12:50 pm |
| Hartford Bailout | Big D | Jan 12, 2009, 12:38 pm |
| and further | matt | Jan 12, 2009, 8:57 am |
| WHAT A JOKE | Matt | Jan 12, 2009, 8:51 am |
| Back to article | ||
Subject: and further
Hartford, based in Hartford, Conn., plans to buy Federal Trust Bank in Sanford, Florida, for $10 million. The OTS said Hartford plans to inject a significant amount of capital into the bank to recapitalize it."
So.... Let's use a landscaper and a barber as comparisons. How is this any different than a landscaper who does $1,000,000 of jobs per year buying a rinkydink local barbershop for $50,000 then applying for "federal barbershop assistance" in the amount of $2,000,000?
Someone explain how a multi-billion dollar *INSURANCE COMPANY* can buy a piddling little local bank (The Hartford's quarterly loss was ~250 times more than the purchase price of this bank!), and somehow they can now get billions of dollars of assistance from the government?