4 thoughts on “Into receivership”

  1. Pingback: Twitted by alabamabuzztap

  2. This post is not Twitted. Would you care if I twitted nothing ? Is Buzz a dumbass ? Yup.
    I continue to get a bad vibe about Regions. I would advise folks to start moving their money out of this “playpen” into something more solid.
    Been with them since the 70’s and even remember when they were called “Exchange Security National Bank”. The way it is being run should concern you. They have flushed a lot of good buddy money down the Florida Panhandle Toilet. The CEO ought to be ashamed to cash his check while the Tellers are being screwed.
    Yup. The rotten fish always stinks from the head down.

  3. You have good cause to be concerned about Regions. Take this from Bloomberg:

    http://www.bloomberg.com/apps/news?pid=20601039&sid=a04oVutXQybk

    According to the column, “Check out the footnotes to Regions Financial Corp.’s latest quarterly report, and you’ll see a remarkable disclosure. There, in an easy-to-read chart, the company divulged that the loans on its books as of June 30 were worth $22.8 billion less than what its balance sheet said. The Birmingham, Alabama-based bank’s shareholder equity, by comparison, was just $18.7 billion.

    “So, if it weren’t for the inflated loan values, Regions’ equity would be less than zero. Meanwhile, the government continues to classify Regions as ‘well capitalized’.”

  4. This thing is being sand-bagged by the local media. The Birmingham News in particular – is protecting the Bank for all the historical sordid reasons. “Cover the Wealthy Asses ” should blaze from the top of the paper.
    I’m telling people out there that this is no single canary falling dead in the mine. They are dropping dead all over this Bank. When “Mad Money Cramer” calls the CEO of Regions – “one of the worst”. Heed these warnings Folks. This house of cards is swaying.

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