tag:blogger.com,1999:blog-3244123422713926575.post6467649556521063277..comments2024-03-28T23:02:24.234-07:00Comments on Flint Expatriates: Citizens Bank Gets Another BailoutFlint Expatriateshttp://www.blogger.com/profile/08352270564340149006noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-3244123422713926575.post-17207819251412929222010-08-24T06:25:01.855-07:002010-08-24T06:25:01.855-07:00I worked at Citizen's pre-crisis (and pre-Repu...I worked at Citizen's pre-crisis (and pre-Republic merger) in the commercial lending department... and they did write default swaps.<br />I don't know that Citizen's held the swaps, but they wrote the deals.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3244123422713926575.post-13996046237003314742009-08-03T12:53:48.253-07:002009-08-03T12:53:48.253-07:00I really enjoy reading your blog. Being a current ...I really enjoy reading your blog. Being a current Genesee County resident, it's good to see that some of our "expatriates" still have a concern for the area. <br /><br />I’d like to comment on your post about Citizens Bank. Citizens did not participate in credit default swaps, subprime loans, etc. The honest simple truth is the Michigan economy has been in a recession/depression since 2003. Sixty percent of the bank's revenues come from the state; it’s easy to figure out how that would impact things. When good businesses are closing their doors and can't pay their loans or a builder/developer can't sell new homes because of the market; that impacts Citizens Bank. At the end of the day you can have collateral up one side and down the other and not be protected from what we're seeing in Michigan.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3244123422713926575.post-72707652311975744712009-07-26T12:18:23.547-07:002009-07-26T12:18:23.547-07:00I just find it interesting that between the first ...I just find it interesting that between the first bailout and this request, a few executives made sure they got out with nice golden parachutes. Just doesn't seem right to me.stringbeanhttps://www.blogger.com/profile/18074363971853919941noreply@blogger.com