Letter to the Editor: Who Are the Fat Cats Now?

Published December 30, 2009, 5:04 p.m. EST

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Updated December 31, 2009, 1:08 p.m. EST

1 Min Read

Letter to the Editor: The Upside of Taking Upside

To the Editor:
Concerning your recent headline: "Who are the Fat Cats Now." Complaints about FDIC taking upside in failed bank deals reeks of sour grapes, with more than a hint of "damned if you do; damned if you don't thrown in.

December 31

To the Editor:

Processing Content

I am fascinated by the FDIC's plan to use insider trading information to speculate on bank stocks. If you have the sole authority to close a bank, choose a buyer, then take a piece of the action on the back end, isn't this an unfair advantage? Are the shareholders of the failed bank becoming the sacrificial lambs for the sake of greed? Who are the fat cats now?

David Greiner
Chief Executive Officer
Tri Valley Bank

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