National City deal probably irreversible, Reps. Steve LaTourette and Dennis Kucinich say

[AnOhioan]

Source: Cleveland Plain Dealer

Two Cleveland-area congressmen said Thursday that the deal to sell National City Corp. probably won't be reversed.

After a private meeting Tuesday with federal officials, Reps. Steve LaTourette and Dennis Kucinich said Thursday that they also believe regulators' decision to kill National City was based on the bank's finances, not politics.

But the congressmen said they disagreed with regulators' conclusions that National City was doomed to fail. And they said there are still unaswered questions.

"This thing isn't over obviously, by any means," said Kucinich, a Cleveland Democrat. "I don't think anyone wants to pronounce National City dead." But while there are still issues to pursue, he said, "I don't know if can change an outcome."

Read more: http://blog.cleveland.com/business/2008/12/national_city_deal_probably_ir.html

[tritsofme]

1. I inherited National City here in Chicago about a year ago.

And I'll be glad to see this POS bank go.

[AnOhioan]

2. You would not be so quick to say that....

if it was a Chicago-headquartered bank that was being bought.

[Fire1]

3. I LOVE National City. It's the best bank around. I HATE:

Bank of America and Chase!

[redirish28]

4. My Wife hates that bank. Her mother finally left that bank Did anyone

know that if you have a checking account and you write a person a check who doesn't have an account with national city and they go to national city to cash it that bank will charge up to $10 to cash that check.

[timtom]

6. Our affiliates here only require TWO forms of ID

instead of one. I've written checks to others who have cashed them there for over a year.

[metapunditedgy]

5. I talked to a PNC rep who was very excited about the NCC purchase.

That makes me glad that I'll be leaving PNC bank soon.

[crim son]

7. National City mismanaged

my trust fund, my sisters' funds and we've just discovered they decimated my grandmother's estate. We PAID them for losing half a million dollars on that one. I can't say I'm sorry to see them go.

[scheming daemons]

8. Disclosure: My brother is an executive at PNC

PNC is very excited about the NCC purchase.


PNC is also a much better run bank than NCC.


This is *GOOD* news for NCC account holders.




(and once again, Pittsburgh "owns" Cleveland. Just kidding.... a little Steelers-Browns reference).