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dhrosier dhrosier • Jun 23, 2010 12:52 PM Flag

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Colonial Fraud
We bought assets and liabilities, not the company.

Given the DOJ methodical approach I have to believe this was known last Summer, before we did the deal.

Still, I would like to see comment by someone who has specific knowledge of the assets we acquired.
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- gaapsox gaapsox • Jun 30, 2010 6:44 AM Flag
  
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  I don't see how BBT could be held accountable for activities by the execs at the old colonial since like you said we bought the assets and liabilities-basically the shell of the bank, not like a non-FDIC buyout like the old days-"merger" type transaction...
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  - dhrosier dhrosier • Jun 30, 2010 8:36 AM Flag
    
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    Not to quibble but my sense is that the "shell" is the corporation, we left the shell plus the gangrenous areas of the corpus. BB&T bought solid muscle, bone and gut, and maybe the bit of brain that was not brain dead. IMHO.

BBT

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