Without the Senator, the longs probably would have lost everything. Awesome for the longs. Finally, the average "joes" get some bailout cash. http://www.washingtonpost.com/wp-dyn/content/article/2009/06/30/AR2009063004229.html?hpid=topnews
I'm not thanking him...I bought in $6-8 range this spring as it looked like this thing had bottomed and was taking off. If this stock had gone under in December, then I wouldn't have bought it.That said, this selling seems overdone. Unless FDIC/Treasury are going to suddenly call the TARP due, then this stock will survive.They have $300 million tangible book value---this is after TARP money owed is accounted for? Assuming it is $300 million legit book value, then this stock is a bargain...or not. Too bad every freaking bank is maxed out on leverage and licking wounds. This would be good time for CPF to be bought out at a premium. The last earnings report sounded like things were okay. Now down 50%+ since the stock maxed out.