I have had some soul searching over this Susquehanna Bank issue and I want to revise some of my statements. First, I could care less about Susquehanna bank and its shareholders and customers. I don's care whether the bank folds or expands into other communities. They mean nothing to me except as fodder for these TARP postings. What does mean something is that they are a smaller bank and by building up the smaller banks, the government will start to restrengthen the part of our financial economy that was always strong (and ethical). Perhaps that is what we should be doing. I would rather see us legislate it restructuring of the banking industry rather than spend massive amounts of money building up small banks. What I am afraid of is that as these bank get strengthened, they will be gobbled up by the bigger banking conglomerates. I was once a customer of Meridian Bank. Within 4 years, I was a customer of Wachovia Bank, First Union, and CoreStates. It was like I was living in some banking PacMan game. Are we building up the smaller banks and reviving the bigger banks just to recreate the same bullshit crisis we are living through now.

As an sidebar, perhaps you noticed that the PR guy from Susquehanna claimed that they will pay the US government a 5% dividend on the preferred stock that they purchase. The closing price yesterday was $14.85 and the dividend is $1.04. Do the math. Every other stockholder is getting 7%.

Have a great weekend!!!!