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TierOne Corp. Message Board

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  • DaBreeze21 DaBreeze21 Apr 9, 2010 1:12 PM Flag

    I would buy TONE, if...

    There is no one left at the bank to negotiate a deal. The timeframe is way too tight to get something done anyways. The OTS will not accept anything less than an outright sale. Why not wait until the FDIC takes it over and buy it in receivership with a loss sharing arrangement with the feds? You can try to trade on the ups and downs for the next few weeks but this is 99.9% going to the FDIC by the end of May.

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    • I agree. When they reduced the board from 9 members down to 4, that was my signal that they were not doing anything to sell/merge this bank. If they had thought it possible all 9 board members would have stayed on to facilitate. Four board members is just four guys playing cards until they come close the doors on them. I wish it were different. I would like to see a real sale of this firm considering all the assets they appear to have.