Bailout Merger No. 1: PNC and National City

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Attention*** There are NO SUCH THING as "Safe Stocks". Period. When will people shake their bankers and stock brokers. They lie when they say it is safe. No guarantee for preservation of capital, too much risk in your portfolio, plan and simple.

Smart Thinking of MI 7:50AM February 25, 2011

I just received all of these new conditions, privacy statements, and a new banking card from PNC. I am now switching to a local bank and keeping my money there because PNC accepted money from the government. I do not believe in 'hand-outs' and any company that needs one will not survive in the long run.

Plus any bank (especially local) that survived the recession gets an A+ in my book.

Joe of IN 1:15AM June 10, 2010

If a Bank has a dollar, it cannot loan a dollar--it is required to keep some money as a Reserve. This Reserve is regulated by the Government---LAW. Four events have attacked the Banking Business. (1) The two Government Entities that must buy Mortgages (LAW) from the Banks for money --have 'Failed' by LAW. (2) The Government (LAW) induced inflated demand for Homes subsided and Home prices declined ---increasing Foreclosure rates. (3) The 'Sarbine Ouch (SO) Law i. e. ' Mark to Market ' of Bank Assets have put Bank Reserves out of Compliance. (4) The OUCH law

has evaporated the 'Market'.

To regain Reserve Compliance, Banks are required (LAW) to stop loans and sell assets.

Therefore, Government 'Money" goes to Bank Reserves and not to Bank Loans.

The Anti-Business Party knows all the facts, but does not want to fix anything; and must lie and and be scary to win voters.

Why is it not the banner of all News Organization; ' Repeal of the OUCH LAW' .

jim of PA 2:45PM February 14, 2009

The trust I manage for my in-laws went from over $100,000 in Nat City stock to a little over $3500.00 this week, and the end is not here.. Regios bank is worse! The trust was at $1,200,000.00 (Regions) at the middle of 2007. It's now under $175,000.00. That means the lifetime savings of two 90 year old nursing home patients are gone. They saved for a lifetime and invested in what they thought was safe, conservative stock.

The financial community should really be held accountable, somehow!

Russ Lay of KY 11:58AM January 19, 2009

I am very angry that the government decided that National City Bank was not vible enough for the bail out money. I have been a customer with National City since 1973 and I hate the fact that they did not get government help. I was one of those customers told that everything was fine and that National City was in good shape after getting a large sum of money some 4-6 months ago. Our government should have given National City tarp money instead of letting PNC buy them out.

Cliff Nunn of OH 8:38PM January 01, 2009

I work for Keybank and I been monitoring the rumors and facts of the PNC NCB buyout. From the view point of a rival bank, this sale eliminates competition, but as a resident of Cleveland and customer of NCB, this is heartbreaking.

From what I heard, NCB's was in really bad shape. Something must've been wrong because they just received a 7 billion dollar injection this april. Rumors have been circulating since then about their buyout.

I honestly think this is gonna turn out to be one of the biggest conspiracy's once the dust has cleared.

1. Though in horrible standing, analysts have been saying that they were surprised that NCB sold for as low as it did when it didnt have to. I think NCB was partially pressured into selling after threats to lose its charter

2. PNC could get a tax break for buying NCB for 5 billion dollars. This would make the PNC NCB merger free basically.

3. The man that approved PNC's funds and denied NCB is Scott Talbot. Talbot and PNC share a little history which is partially why the acquisition was investigated.

4. Some of the execs including NCB's current president are going to be migrating into exec positions at PNC and some will receive a nice going away package while tons of others lost their jobs.

5. Currently, many NCB shareholds are suing to stop the sale. Normally major sales like this buyout are for the purpose of at lease satisfying shareholders if not NCB customers. Chances are they werent informed that NCB would sell...most of the time, they have to vote on it. In fact, part of the law suit includes a vote to stop the sale.

Though theres probably no chance of NCB coming back from this now, my hope would have been for NCB to rebound from its horrible morgage lending, bad books, ruined rep, and increase its stock. Losing NCB is going to devastate Cleveland, but we shall see what happens.

Earl W. of Keybank of OH 7:04PM December 11, 2008

It is not right that they led all of us to beleive they were notdoing well just like when Harbor Federal was bought out. The employees are the losers.

of 9:25AM November 24, 2008

I'm a bit of a novice at all this, but on CNBC this morning a senator (I believe) from NCC's home state was grilling Paulson and others about why NCC was not given any monies as part of the TARP program...or something along these lines. What I got out of it was that NCC was not given any funds to stay in business, and that the TARP funds are given out on a very discretionary basis. So essentially the government helped NCC stay in a weakened state. Thus other banks that have access to TARP funds now come in and take over the weaker bank...the bank that would have been much more stable had they been given access to the same funds PNC was.

Joe of OR 1:31PM November 18, 2008

This is why the majority of America said no to the bailout, with this merger I feel like once again I was lied to about how the bailout would be used. I don't recall at anytime hearing the Government saying they were going to select only certain banks to give money to and by the way yes you can use tax payers money to go and buy banks that our weak. I think this merger will not only cause great job losses throughout Ohio, but will in the long run cause a monopoly with PNC who will come in later and not help small business and charge whatever they feel to the average consumer. Once again making PNC bigger and your pockets even emptier. This merger should be investigated to make sure it is best for America not PNC. I understand buying the weak but the last time I checked NCC was one of the top 10.

Ron of OH 1:26PM October 29, 2008

How is this helping the 5,000+ who will loose their jobs in the NE Ohio area?

Joe of OH 12:32PM October 29, 2008

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