Wed, Jun 19, 2013, 9:46 PM EDT - U.S. Markets closed
Only three reasons you would do that:
1) CEO received confidential phone call from Ben Bernanke: "Don't tell anyone, but we're raising interest rates suddenly and sharply;"
2) Shareholders have all the money they will ever need, so why try to earn more?; or
3) Setting the bank up for sale?
Well, let me guess ... it's not "2".
Shot clock came in in the 1980's ... that's okay ... all HBKS shareholders still living in the 70's.
What? The CEO received confidential phone call from Ben Bernanke.
"The Federal Reserve may begin to reverse its massive easing soon, and when interest rates finally rise, the stock market will get hammered, says retired hedge fund manager Andy Kessler.
He doesn’t think the easing program has accomplished much. “The experiment to kick-start the economy with near-zero interest rates has failed,” Kessler writes in The Wall Street Journal."
Read what the CEO writes ... watch and learn:
"An unexpected indication from the U.S. Federal Reserve that it is considering how to bring an end to its super-easy monetary policy rattled markets Thursday."
Headline: "Virginia Commerce Said to Be Exploring Sale, Hires Sandler."
VCBI could have saved the Sandler commissions. Just put all its money into other banks ... and the other banks will start asking: "Why are you putting your money here?"
Seems like an economical way to shop the bank around.