All the pontificating by the CEO over the years about how TCF didn't get involved in subprime loans and a SIV was a bad goalie yada yada yada and now they have this "asset repositioning" that leads to huge loss.
What a crock...why don't they call a spade a spade and maybe I would have a little more confidence in them. All this sounds like to me is that they're facing up to losses that should have been recognized long ago but instead of admitting they made mistakes they call it repositioning. Well I'm glad I repositioned out of TCF several months ago...though not too happy with the repositioning my assets into 50% less cash. His republican buddies would be proud of him for his euphemistic creativity after all they came up with the "Clear Skies" bill to roll back pollution regulations on coal power plants.
As an old saying goes "Fool me once, shame on you, fool me twice, shame on me".