Capital One
3.5 billion dollar taxpaer rip-off

A note for all taxpayers who have been victim to Capital One abuse in lending, we're giving them 3.5 billion in funds they DO NOT even need, to aid their shareholders finacial security. Tell your representative do NOT give Captal One uneeded cash from taxpayer funds. They do not give such breaks to their customers even in crisis, and it will not likely help any of their customers in any way.

Quote:
A Message from Lynn Pike, President, Capital One Bank

Liquidity and Capitalization
# Capital One had a healthy liquidity position, with $32 billion of readily available funds.
# Capital One has not used overnight or short-term fundingits liquidity and funding sources matched or exceeded the average maturity of it loans.
# Capital One's businesses continued to generate capital.
# We have capitalization well above what our regulators require.
# Although we are comfortably above our capital targets, Capital One issued approximately $750 million in common stock in late September. We raised equity from a position of strength and at attractive levels relative to our year-to-date average stock price.
# Capital One will participate in the Treasury Department's Capital Purchase Program and will receive approximately $3.5 billion. As a stable, well-capitalized bank, we do not need the additional capital. However, following careful analysis, we concluded that this program is an important step in supporting the financial and economic stability of the U.S. And provides an attractive alternative source for capital. [As of October 27]

Company: Capital One
Country: USA
State: California
City: Long Beach
Address: Capital One Auto Finance PO Box 93016
Phone: 8009460332

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