when there's crisis, some people can use it for manipulation For example: Yesterday, NCC bank got acquired stock-for-stock 0.0392 ratio (2.23 / 56.89) by PNC

when there's crisis, some people can use it for manipulation For example: Yesterday, NCC bank got acquired stock-for-stock 0.0392 ratio (2.23 / 56.89) by PNC bank. NCC did not get TARP money. PNC got money from treasury in return for preferred stocks NCC largest shareholder (Corsair) gets 4+ bln in 'non-stock dividend' + 3 bln shares valued at $2.35 (Corsair invested 7 bln dollar during the last 6 months) NCC executives get 300+ mill usd in compensation and 'golden parachute' (they will be in PNC+NCC board) the employees of NCC (non executives) got laid off (4000 already) and will be more The shareholders got shafted, thursday close was $2.77, the deal is priced at $2.23 There's a class action lawsuit in progress against NCC -- NCC CEO said NCC is "well capitalized" and various misleading things that can be considered fraud In effect, FDIC infused TARP money to PNC to buy NCC, in return for the stakes (they say every bank qualifies -- that's not right) See, in crisis some people get more power to screw everyone ... so don't worry about credit card crisis not happening -- it will ... some people want it to happen