S&P Junks Regions Financial

Tyler Durden's picture

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bugs_'s picture

Suntrust next?

SwingForce's picture

Same footprint, why not? Here's a recent condo sale in Broward, FL: (see SALES HISTORY)

http://bcpa.net/RecInfo.asp?URL_Folio=484220GJ0440

goldmiddelfinger's picture

Guessing the 2006 sale was a zero down, subprime, option ARM, liar loan to an unemployed illegal alien

SwingForce's picture

3 out of 5 right, its not lying if they don't even ask the questions. 

Bonus round: Seller was a mortgage broker!

unwashedmass's picture

about six months after the fact....

these guys should just turn out all the lights and go home.....

 

 

Wynn's picture

S&P    flag as junk (1)

RockyRacoon's picture

I abandoned Regions some months ago and moved my accounts to a local S&L.

Feeling great to have made my contribution.

NOTW777's picture

a year from now they will be reviewing TSA groping performance

economessed's picture

I was watching TV last night and thought I was seeing a public service announcement for the TSA, but it turns out, it was just a Cialis commercial.

NOTW777's picture

could not believe that photo of them dressing down what looked to be a 5 year old - what the hell is wrong with these people?

Eternal Student's picture

You have to look on the bright side of things. The TSA is making Catholic Priests look like Saints.

MachoMan's picture

I'm pretty sure fucking little kids in the ass is worse...

TideFighter's picture

BXS is same situation, no way out. Plus they have 2 dozen class actions against them.

Cognitive Dissonance's picture

This is the mud wallowing pig (S&P) calling the disease infested rat (Regions) unsanitary. (BTW, don't you just love that the root of sanitary is "sanity" or "sane", so unsanitary is un or insane?)

The HEIGTH of hypocrisy. Nothing new here to see, move along.

SheepDog-One's picture

Cannibalism time, as any sane retail has long since left the rigged casino so no one to devour except each other.
Scene from The Shining comes to mind when Danny from the back seat says 'You mean they ate each other up'? Thats right, oh Danny Boy.

Red Neck Repugnicant's picture

The HEIGTH of hypocrisy...

Yep, it's rather hypocritical.

But it's not the height of hypocrisy - maybe just the penultimate. The trophy is squarely reserved for the Republicans. The hypocrisy of the Republicans is absolutely knee buckling.    

Example:

Stand on a soapbox and preach the necessity for a smaller, less intrusive, less influential and more frugal government, while simultaneously enacting legislation that checks inside my shampoo bottles, X-rays my scrotum, monitors my phone conversations and emails, annihilates the DXY by 40%, doubles the national debt from ~$6T to ~$12T (while, strangely, calling for less taxes), and then, in the ultimate example of fascism, plutocracy and kleptocracy in modern history, takes my tax dollars against my wishes and gives them to their millionaire banker friends so their power and control over society is preserved. 

That is the height of hypocrisy. When it comes to hypocrisy, the modern Republican party has no match.

    

 

Cognitive Dissonance's picture

I bow to your superior knowledge on the subject. The political circus has been interesting. It all reminds me of the circus clowns running around in the center ring bumping into each other, riding in clown cars, doing prat falls and so forth.

I think the Democrats are the clown that's always shooting himself in the foot.

goldmiddelfinger's picture

What? RF didn't give freely to the Fraternal Order of Rating Agencies?

 

The Axe's picture

RF is one sorry bank, it will soon be listed on the pink sheets...If you fire ALL of your risk officers..I very much doubt that you will see ANY upward movement in your assets anytime soon...   SELL>>>>

lamont cranston's picture

Looks like it's time to move my business banking again. The only smart banker from AL was John Malone, who unloaded South Trust to Watchovaya  3-4 years ago (hopefully had the sense to sell most of his stock).

Bobby Lowder at Colonial might wind up in jail over RICO at Colonial and the whole Auburn football mess - Colonial was issuing blank ATM cards to athletes that pulled from secret accounts.

Birmingham will wind up just like Charlotte within 6-8 months, if not headed there already.

HungrySeagull's picture

I abandoned that southern fried POS bank some years ago. Thank god I got out when it was good to get out.

Now if they will just STOP throwing money at the Satellite Commericals featuring green bikes they might actually have something to fall back on.

Just one little issue I think. Regions is one of the original Charter Banks that founded the Fed are they not?

Clapham Junction's picture

It's not funny, but I recall a Junk Bond fund of theirs run by some hot shit manager.

I believe that when the fund was finally closed to investors it was about $0.34 and yielding 38%

I could be off a bit, but you get the idea. The funds were taken over by some other entity and there were pending lawsuits.

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