And here they are...the new portfolio companies in the sovereign wealth fund of the United States:
There's no arguing with the fact that these are the best, strongest banks in the country. One curious thing to note: they're all the strongest banks on the corporate services side. Some of the big consumer super-regional players (e.g.,US Bancorp, PNC) aren't listed here. That may have the effect of reactivating the commercial paper and C&I markets preferentially over the consumer and small business segments.
I wonder if that's going to be the case? If so, is that going to be a good thing?
Whatever the case, I hope the investment came with some head-knocking and the statement, "you guys are going to lend to the other banks, or else." Also, some thanks to the American people would be appropriate, along with a promise to Never Screw Up Again.