Now over the years I have done my part in helping GM by buying their cars, practically resisting buying “foreign” cars, even those made in the USA by the “foreign” companies employing thousands of Americans right here in the good ole USA. I wanted to help American companies.

Let’s see if I can remember my list of GM cars over the years ( I have also bought my share of other American cars too, including Fords, Lincolns, Chryslers, Mercurys and Dodge): 6 Cadillacs of every type (one of them a stretch limo bought from the dealer who used it as a model car with 100 miles on it even though it was 3 years old at the time), 5 Pontiacs, 1 Chevy G20 Conversion Van with custom captain chairs ( when those were the rage) and even 1 Chevy Vega purchased for my mom (remember those cars?). There may have been another one somewhere but I just can’t remember it.

So I have done my part, what else could I do personally for GM.

I stopped buying GM cars after the local dealership shafted me on servicing my Van, and I never went back for any GM automobile. Writing a complaint letter to the factory, I received no reply, so I was finished with GM. I thought that after all that money I spent, it would be nice if they sent me a $10 off coupon for an oil change for instance, but no, GM could care less that I bought no less than 13 cars from them; I deserved nothing for that loyalty.

So I became loyal no more.

Could this be the story of other GM customers? Probably not, I’m sure that nobody else ever had my similar experience with GM, that’s why they are now so popular, NOT!

Now GM is getting the shaft from the government, from its customers and from the stock market, that it deserves. Like every business, it has management to blame, and nobody else, and it needs to sink or swim within the marketplace, not being propped up by my TAX money.

So why is it that I/WE have to bail out this company, with our TAX money? Why?

There are over 1,500 different car models to choose, most of which are not being made with my tax money.

PLEASE GM, STOP BURNING THOUGH MY MONEY AND FILE FOR THE REORGANIZATION so that the pain of paying $75/hour for your employee costs is not MY PROBLEM!

ALSO, PLEASE DO NOT LET THE GOVERNMENT START MAKING GM CARS (GOVERNMENT MOTORS)..PLEASE SAVE US.

General Motors Corp said it burned through $10.2 billion in the first quarter as it failed to cut costs fast enough to offset a sharp decline in global sales and was kept afloat by a federal bailout.

Revenue dropped by almost half to $22.4 billion as the company cut production by about 900,000 vehicles and tried to run down costly inventories on dealer lots in the United States and Europe.

Chief Financial Officer Ray Young said there was evidence consumers were scared away from GM cars and trucks because of concern the automaker was headed for bankruptcy.

“You could not offset the revenue implosion that we experienced here,” Young told reporters following release of the quarterly results on Thursday.

He said GM still hoped to complete a debt restructuring out of court but was ready for bankruptcy if that proved necessary. He said GM was pressing ahead with contingency plans for a quick bankruptcy process, drawing on the experience of Chrysler LLC, which filed for bankruptcy last week.

“We are very very cognizant of this issue of revenue perishability and how consumers react to the threat of bankruptcy,” Young said.

“So that’s from our perspective the importance of avoiding bankruptcy at all costs. But if we have to go through a bankruptcy, the importance of doing it quickly — get in and out very very quickly — in order to alleviate the concerns of consumers,” he said.

Young said GM would make a decision at the end of this month on whether an offer to extinguish $24 billion in bond debt in exchange for new shares had garnered enough support for the company to avoid a bankruptcy filing.

GM lost market share in the quarter as its global sales fell 28 percent, compared with an industry wide decline of 21 percent.

DEADLINE LOOMS

GM posted a first-quarter net loss of $6 billion, compared with a loss of $3.3 billion a year earlier.

Excluding $73 million of one-time net charges, it lost $9.66 per share. That was within the wide range of analysts’ expectations.

GM is facing a government-imposed June 1 deadline to reach agreements to overhaul its operations and cut more than $40 billion in debt. To date, the company has taken $15.4 billion in emergency loans from the U.S. Treasury.

The first quarter was also marked by GM’s failure to win federal backing for a turnaround plan that the U.S. autos task force concluded was too slow-moving to succeed.

The Obama administration ousted Rick Wagoner as GM chief executive at the end of the quarter.

Creditors have been looking beyond GM’s results, focusing instead on whether it succeeds in winning debt concessions from its bondholders and the United Auto Workers union.

The automaker said on Thursday that it had not yet reached the deal it needs with the UAW.

It also said the Treasury had not yet agreed to convert half of the loans it has extended to GM into stock in a restructured company, as the automaker has proposed.

Young said GM was back in talks with union representatives this week and was ready to negotiate around the clock to reach a settlement.

The UAW faces pressure to accept GM stock in exchange for about $10 billion the union is owed for a trust fund for retiree health care. That would give the union a 39 percent stake in the restructured company. That’s nice, they get to own the company stock now as probably its biggest stockholder. What will those wage negotiation be like now?

Under the restructuring plan GM detailed last month, the government would own a majority stake, effectively nationalizing the 100-year-old Detroit-based automaker.

Hello, big brother, I do not want to buy GM stock, why are you buying it for me, NO, NO!

GM shares rose to $1.72 in pre-market trading, up from a close at $1.66 on Wednesday.

How much is the government buying MY stock for?

Please buy some Microsoft, or Apple or maybe Toyota instead?

You can say it’s the start of “a vibrant new company,” as Chrysler LLC Chairman Robert Nardelli did last week.

But there’s one word that you can’t call the Chrysler bankruptcy package: legal.

The plan would overturn basic rules of bankruptcy by setting up a sort-of sale to sidestep pesky legal requirements. It would bulldoze well-established rights of secured creditors, property rights the U.S. Constitution guarantees.

So if U.S. Bankruptcy Judge Arthur Gonzalez follows the law, the Chrysler rescue plan dies. If he blinks and approves it, secured creditors everywhere should feel a shiver of unease, and quick sales of insolvent companies to avoid court scrutiny would multiply.

The other option is a settlement, and that might well be where this is headed.

I hate to say it, but the dissident Chrysler lenders are right, the ones President Barack Obama described as greedy hedge funds selfishly blocking Chrysler’s survival.

The president’s fist-waving looks a lot like the posturing lawyers use to scare an adversary into surrender, never mind the law. In fact, several are giving up the cause.

At the heart of the plan, and at the heart of the plan’s problem, is the idea that Chrysler would sell itself quickly rather than go through months or years of court-supervised reorganization, within 60 Days.

Called a 363 sale for the relevant section of the bankruptcy code, it can close within 60 days and unload all or part of the company. The sale to Barclays of a piece of Lehman Brothers Holdings Inc. took about a day.

A 363 sale is perfectly legal when a sound business reason demands it and when it isn’t reorganization in disguise.

But if it’s aimed at resolving creditors’ claims, that is what reorganization is for. Bankruptcy reorganization promises secured creditors at least the same payout they would get if the company liquidated, and Chrysler’s proposed sale looks like a way around that.

Figuring what creditors have coming to them requires lots of paperwork and hearings. That’s why it takes so long.

Drawn-Out Bankruptcy

And that is what Chrysler is trying to avoid. In fact, it must avoid a long, drawn-out bankruptcy if it is to survive.

But with a 363 sale, there is no chance to figure the value of Chrysler’s assets if sold piecemeal, much less what each creditor should get.

The secured creditors who are complaining about this helped save Chrysler the last time it almost went under, in 2007 after the marriage to Daimler AG soured. How much of a haircut should they be forced to take?

The dissidents say the sale is nothing more than what bankruptcy law calls a sub rosa reorganization, a secret reordering dressed up to look like a sale, which the law forbids.

Plus, would it even be a true sale?

In public statements Chrysler says a United Auto Workers health benefits trust would get 55 percent of the shares of New Chrysler and a $4.6 billion note to satisfy some of the group’s unsecured claims against the company.

Paying nothing but offering its fuel-efficiency expertise, Fiat SpA would own 20 percent initially and could increase its stake by another 15 percent. The U.S. and Canadian governments, which are providing billions in interim financing, would own the rest.

Phony Sale

Chrysler is essentially selling itself to itself, says Lynn LoPucki, a law professor at the University of California, Los Angeles. He teaches secured transactions and maintains a database of major bankruptcies.

So, if the “sale” isn’t a true sale, and if it dictates payout to secured creditors, isn’t that a sub rosa reorganization?

If it favors junior creditors over senior creditors, doesn’t it violate the very basics of bankruptcy law? Senior creditors can volunteer to give up some of what’s due them but they can’t be forced to by a bankruptcy court.

“Those are property rights, and they are protected by the Constitution,” says Daniel Glosband, a partner in Boston’s Goodwin Procter. “You can’t just take them away.”

And yet, it could happen.

‘Enormous Momentum’

“There’s an enormous momentum in favor of the government plan,” says Jay Westbrook, who teaches bankruptcy law at the University of Texas.

It’s naïve to assume bankruptcy judges feel compelled to follow the law, says LoPucki.

He argues that bankruptcy courts across the country compete for the big cases by giving lawyers for major companies what they want.

“According to the law, this plan should not be approved,” LoPucki says.

Yet he predicts Gonzalez will do it anyway to persuade other companies (General Motors Corp. comes to mind) to pick Manhattan’s bankruptcy court over, say Detroit’s.

Already the Chrysler case is one for the books. You have the federal government sending a company into bankruptcy court, financing its reorganization, deciding who will get what, setting a strict timetable and urging a judge to blink at the law.

If the argument that Chrysler’s welfare is so critical to the national interest that longstanding laws can be ignored, what’s next?

Some future president will find a way to justify blatantly illegal conduct. Such as torture.

Ann Woolner is a columnist. The opinions expressed are her own.

Chrysler LLC wants to eliminate 789 of its U.S. 3,200 dealerships, saying in a bankruptcy court filing Thursday that the network is antiquated and has too many stores competing with each other.

The company, in a motion filed with the U.S. Bankruptcy Court in New York, said many of the dealers’ sales are too low. Just over 50 percent of the dealers account for about 90 percent of the company’s U.S. sales, the motion said.

The move, which the dealers can appeal, is likely to cause devastating affects in cities and towns across the country as thousands of jobs are lost and taxes are not paid.

Chrysler spokeswoman Kathy Graham would not comment other than to say the company will notify dealers before speaking publicly.

Chrysler dealerships aren’t the only ones scheduled to get bad news this week. General Motors Corp. says it is notifying 1,100 dealers that it will not renew their franchise agreements when they expire at the end of September of 2010.

In its motion, Chrysler said it has many dealerships that sell one or two of its brands, with Chrysler-Jeep dealerships competing against Dodge dealers as well as other automakers’ stores across the country.

“In addition, as suburbs grew and the modern interstate system continued to evolve, longstanding dealerships no longer were in the best or growing locations,” the company said in its filing. “Many rural locations also served a diminishing population of potential consumers. Some dealership facilities became outdated. Other locations faced declining traffic count and declining populations.”

Chrysler has received $4 billion in federal loans and has been operating in bankruptcy protection since April 30. Its sales this year are down 46 percent compared with the first four months of last year and it reported a $16.8 billion net loss for 2008.

When this occurs, the property simply sits, vacant, abandoned and an eye sore, often vandalized for its copper plumbing, cabinetry or any other fixtures that can be stolen and resold.

So in effect, about 1,216,000 homes will sit as abandoned eye sores.

So much for the usual government help.

The issue is how much of the financing for such a home can include some added funds to fix the home, making it salable and habitable?

The government programs do not provide for that, and in fact they would discourage any such project financing, since the standard method of obtaining financing is by having the home APPRAISED as to its lendable value.

What do you tink will be the value of a stripped and damaged home to be submitted by the appraiser for financing? How about literally nothing, or a token $1.

How much home financing can one get on an appraisal of $1????

Do you see the point now? We need a different level of appraisals to clear out the glut of abandoned homes which can be fixed up and purchased for a reasonable amount.

Is there nobody out there to figure this out?

Did anyone notice that FIAT, aka FLAT, made cars that nobody wanted to buy in America. That is why that brand is not sold here-FIAT made funny cars in which it was hard to figure out which end was the front and which was the back, and it had a bad reputation of always having something not working just right.

I personally never owned an Italian FIAT, but I owned an Italian airplane, the fabulous Waco Vela, which always needed some part. The last part it needed was mandated by the FAA, otherwise it was not allowed to fly, a landing gear part that could pulverize on landing.

I placed the order with the Italian factory, and after about a year I received it; enough said.

Remember those little cars more suited for European drivers used to driving with their knees in their chin? Oh, and do you remember the rust that would engulf the cars after just a few years.

I am not talking about exotics, just the ones that regular people might buy.

For the same amount as the government is now spending to keep this dead DUD alive, it could have built a new robotic factory in Tennesee or Alabama, or Texas, and have billions left to spare, however, that may not include a union pension plan, or outrageous wages as well, so it was dead on arrival.

Now that the wise men ( aka WISEGUYS) from the government are running Chrysler, the first order of business after getting billions in cash, was to SHUT DOWN ALL THE PLANTS THROUGHOUT THE COUNTRY FOR AN INDEFINITE PERIOD OF TIME.

That move is so stupid, it can not be adequately described with a sufficient number of *@%&!!! symbols. All the assembly plants will close, and they will start up again….whenever the company exits its Chapter 11 process.

Did someone forget that Chrysler does not actually really make cars, it just assembles them from the parts and pieces that are sent to its “assembly plants” by all kind of little and big REAL manufacturers.

What are these REAL manufacturers to do while Chrysler goes into a type of financial hibernation? Will these often crucial suppliers just wake up too when it comes back to life?

Don’t count on it.

In the real world of manufacturing, these other independent businesses need to have a steady stream of revenues to in turn pay their employees, and to STAY IN BUSINESS.

What if when Chrysler says to them “I’m back start shipping me those door handles and oil dipsticks and ashtray covers”, nobody answers the phone because these manufacturers are out of business. This may have been a little detail all the new guys running the business may have forgotten, Chrysler really does not REALLY build any cars, the suppliers do, and they can not all just hibernate too, and spring to life when needed.

In a free market this deal would never happen on the announced terms, it would happen as it should though a real reorganization, and Chrysler may have been able to emerge as a competitive business.

Don’t buy the stock too soon, until you see what this car line will look like.

This is a great time to start to specialize in shipping, as the rates for shipping a 20 foot container from China to Europe has gotten to be as low as $300 (plus various fuel and transit fees), which compares to $3,000 a year ago.

The rates for the USA have also dropped about 80%-90%, so this is great time for developing the import business.

Another reason for the drop in shipping fees is that the MEGA ships which carry the containers can now accommodate up to 13,800 containers on one ship. Several shipping lines have on order ships which can carry 22,000 containers!

Shipping brokers estimate that rates will remain for low for at least the next 2-3 years due to this tremendous capacity, and the slow down in shipping.

That miracle prediction must have come to him in a dream perhaps, sort of like the TV show, MEDIUM, where he dreams an event and it come true. And now another prediction from the one, the only, Ben Bernanke. Let’s all just sit quietly while the GREAT BEN sees directly into the future while laying on his couch.

Oh, it is now becoming clearer, Ben is now about to predict an occurrence that has never happened before in the history of the world….but it is so, Ben said so, and he smiled too!

It must happen, it will happen; all will be just great by the end of 2009!

Now that we heard the dream, let’s analyze the reality, by studying the results of polls of purchasing agents, retail sellers, hiring officers and of course the SAGE OF OMAHA, Warren Buffet, a former adviser to the administration.

These front time people do not agree with the FED Chairman as they see a continuation of sluggish sales, sluggish hiring and sluggish inventory and raw material purchasing.

So how can these predictions be so different, after looking at the same data?

The answer is the new economic model called “WISHFUL THINKING.”

Simply put, just keep saying it and it will happen-it is that simple.

So, just keep saying: “I will hire more people, even though I do not need any more; I will buy more supplies and inventories, even though the bank has not given me more credit to so so with; I will buy a new house even though I do not have the down payment, etc.

What, you say, those are contradictory terms?

Now you understand, how opinions are just that, opinions. But coming from the FED Chairman, one would hope that there was more than just an opinion, but something based on real facts.

Most financial institutions have received capital infusions via the Treasury’s Capital Assistance Program, a bank-share purchase program intended to restore confidence in banks and get them to lend. This program is funded with $250 billion of the $700 billion Troubled Assets Relief Program authorized by Congress in October 2008 via the Emergency Economic Stabilization Act. Below, see a list of participating companies.

Company	Capital	Capital Repayment Announced
1st Constitution Bancorp	$12,000,000	3/31/2009
1st Enterprise Bank	$4,400,000	3/31/2009
1st FS Corporation	$16,369,000	3/31/2009
1st Source Corporation	$111,000,000	3/31/2009
1st United Bancorp, Inc.	$10,000,000	3/31/2009
AB&T Financial Corporation	$3,500,000	3/31/2009
Adbanc, Inc.	$12,720,000	3/31/2009
Alarion Financial Services, Inc.	$6,514,000	3/31/2009
Alaska Pacific Bancshares, Inc.	$4,781,000	3/31/2009
Alliance Financial Corporation	$26,918,000	3/31/2009
Alpine Banks of Colorado	$70,000,000	3/31/2009
AMB Financial Corp.	$3,674,000	3/31/2009
AmeriBank Holding Company	$2,492,000	3/31/2009
American Express Company	$3,388,890,000	3/31/2009
American State Bancshares, Inc.	$6,000,000	3/31/2009
Ameris Bancorp	$52,000,000	3/31/2009
AmeriServ Financial, Inc.	$21,000,000	3/31/2009
Anchor BanCorp Wisconsin Inc.	$110,000,000	3/31/2009
Annapolis Bancorp, Inc.	$8,152,000	3/31/2009
Associated Banc-Corp	$525,000,000	3/31/2009
Avenue Financial Holdings, Inc.	$7,400,000	3/31/2009
BancIndependent, Inc.	$21,100,000	3/31/2009
Bancorp Rhode Island, Inc.	$30,000,000	3/31/2009
BancPlus Corporation	$48,000,000	3/31/2009
BancStar, Inc.	$8,600,000	3/31/2009
BancTrust Financial Group, Inc.	$50,000,000	3/31/2009
Bank of America Corporation	$15,000,000,000	3/31/2009
Bank of America Corporation	$10,000,000,000	3/31/2009
Bank of Commerce	$3,000,000	3/31/2009
Bank of Commerce	$17,000,000	3/31/2009
Bank of George	$2,672,000	3/31/2009
Bank of MarinBancorp	$28,000,000	3/31/2009
Bank of New York Mellon Corporation	$3,000,000,000	3/31/2009
Bank of North Carolina	$31,260,000	3/31/2009
Bank of the Carolinas Corporation	$13,179,000	3/31/2009
Bank of the Ozarks, Inc.	$75,000,000	3/31/2009
Bankers’ Bank of the West Bancorp, Inc.	$12,639,000	3/31/2009
BankFirst Capital Corporation	$15,500,000	3/31/2009
BankGreenville	$1,000,000	3/31/2009
Banner Corporation	$124,000,000	3/31/2009
Banner County Ban Corporation	$795,000	3/31/2009
Bar Harbor Bankshares/Bar Harbor Bank & Trust	$18,751,000	3/31/2009
BB&T Corp.	$3,133,640,000	3/31/2009
BCB Holding Company, Inc.	$1,706,000	3/31/2009
BCSB Bancorp, Inc.	$10,800,000	3/31/2009
Beach Business Bank	$6,000,000	3/31/2009
Berkshire Hills Bancorp, Inc.	$40,000,000	3/31/2009
Bern Bancshares, Inc.	$985,000	3/31/2009
Blackhawk Bancorp, Inc.	$10,000,000	3/31/2009
Blue Ridge Bancshares, Inc.	$12,000,000	3/31/2009
Blue River Bancshares, Inc.	$5,000,000	3/31/2009
Blue ValleyBan Corp.	$21,750,000	3/31/2009
BNB Financial Services Corporation	$7,500,000	3/31/2009
BNC Financial Group, Inc.	$4,797,000	3/31/2009
BNCCORP, Inc.	$20,093,000	3/31/2009
BOH Holdings, Inc.	$10,000,000	3/31/2009
Boston Private Financial Holdings, Inc.	$154,000,000	3/31/2009
Bridge Capital Holdings	$23,864,000	3/31/2009
Bridgeview Bancorp, Inc.	$38,000,000	3/31/2009
Broadway Financial Corporation	$9,000,000	3/31/2009
Butler Point, Inc.	$607,000	3/31/2009
C&F Financial Corporation	$20,000,000	3/31/2009
Cache Valley Banking Company	$4,767,000	3/31/2009
Cadence Financial Corporation	$44,000,000	3/31/2009
California Bank of Commerce	$4,000,000	3/31/2009
California Oaks State Bank	$3,300,000	3/31/2009
Calvert Financial Corporation	$1,037,000	3/31/2009
CalWest Bancorp	$4,656,000	3/31/2009
Capital Bancorp, Inc.	$4,700,000	3/31/2009
Capital Bank Corporation	$41,279,000	3/31/2009
Capital Commerce Bancorp, Inc.	$5,100,000	3/31/2009
Capital One Financial Corporation	$3,555,199,000	3/31/2009
Capital Pacific Bancorp	$4,000,000	3/31/2009
Carolina Bank Holdings, Inc.	$16,000,000	3/31/2009
Carolina Trust Bank	$4,000,000	3/31/2009
Carrollton Bancorp	$9,201,000	3/31/2009
Carver Bancorp, Inc.	$18,980,000	3/31/2009
Cascade Financial Corporation	$38,970,000	3/31/2009
Cathay General Bancorp	$258,000,000	3/31/2009
Catskill Hudson Bancorp, Inc.	$3,000,000	3/31/2009
CBB Bancorp	$2,644,000	3/31/2009
CBS Banc-Corp.	$24,300,000	3/31/2009
Cecil Bancorp, Inc.	$11,560,000	3/31/2009
CedarStone Bank	$3,564,000	3/31/2009
Center Bancorp, Inc.	$10,000,000	3/31/2009
Center Financial Corporation	$55,000,000	3/31/2009
Centerstate Banks of Florida Inc.	$27,875,000	3/31/2009
Centra Financial Holdings, Inc./Centra Bank, Inc.	$15,000,000	3/31/2009
Central Bancorp, Inc.	$22,500,000	3/31/2009
Central Bancorp, Inc.	$10,000,000	3/31/2009
Central Bancshares, Inc.	$5,800,000	3/31/2009
Central Community Corporation	$22,000,000	3/31/2009
Central Federal Corporation	$7,225,000	3/31/2009
Central Jersey Bancorp	$11,300,000	3/31/2009
Central Pacific Financial Corp.	$135,000,000	3/31/2009
Central Valley Community Bancorp	$7,000,000	3/31/2009
Central Virginia Bankshares, Inc.	$11,385,000	3/31/2009
Centrix Bank & Trust	$7,500,000	3/31/2009
Centrue Financial Corporation	$32,668,000	3/31/2009
CIT Group Inc.	$2,330,000,000	3/31/2009
Citigroup Inc.	$25,000,000,000	3/31/2009
Citizens & Northern Corporation	$26,440,000	3/31/2009
Citizens Bancorp	$10,400,000	3/31/2009
Citizens Bancshares Corporation	$7,462,000	3/31/2009
Citizens Bank & Trust Company	$2,400,000	3/31/2009
Citizens Commerce Bancshares, Inc.	$6,300,000	3/31/2009
Citizens Community Bank	$3,000,000	3/31/2009
Citizens First Corporation	$8,779,000	3/31/2009
Citizens Republic Bancorp, Inc.	$300,000,000	3/31/2009
Citizens South Banking Corporation	$20,500,000	3/31/2009
City National Bancshares Corporation	$9,439,000	3/31/2009
City National Corporation	$400,000,000	3/31/2009
Clover Community Bankshares, Inc.	$3,000,000	3/31/2009
Coastal Banking Company, Inc.	$9,950,000	3/31/2009
CoBiz Financial Inc.	$64,450,000	3/31/2009
Codorus Valley Bancorp, Inc.	$16,500,000	3/31/2009
ColoEast Bankshares, Inc.	$10,000,000	3/31/2009
Colonial American Bank	$574,000	3/31/2009
Colony Bankcorp, Inc.	$28,000,000	3/31/2009
Columbia Banking System, Inc.	$76,898,000	3/31/2009
Columbine Capital Corp.	$2,260,000	3/31/2009
Comerica Inc.	$2,250,000,000	3/31/2009
Commerce National Bank	$5,000,000	3/31/2009
Commonwealth Business Bank	$7,701,000	3/31/2009
Community 1st Bank	$2,550,000	3/31/2009
Community Bancshares of Kansas, Inc.	$500,000	3/31/2009
Community Bank of the Bay	$1,747,000	3/31/2009
Community Bankers Trust Corporation	$17,680,000	3/31/2009
Community Business Bank	$3,976,000	3/31/2009
Community Financial Corporation	$12,643,000	3/31/2009
Community First Bancshares Inc.	$20,000,000	3/31/2009
Community First Bancshares, Inc.	$12,725,000	3/31/2009
Community First Inc.	$17,806,000	3/31/2009
Community Holding Company of Florida, Inc.	$1,050,000	3/31/2009
Community Investors Bancorp, Inc.	$2,600,000	3/31/2009
Community Partners Bancorp	$9,000,000	3/31/2009
Community Trust Financial Corporation	$24,000,000	3/31/2009
Community West Bancshares	$15,600,000	3/31/2009
Congaree Bancshares, Inc.	$3,285,000	3/31/2009
Corning Savings and Loan Association	$638,000	3/31/2009
Country Bank Shares, Inc.	$7,525,000	3/31/2009
Crazy Woman Creek Bancorp, Inc.	$3,100,000	3/31/2009
Crescent Financial Corporation	$24,900,000	3/31/2009
Crosstown Holding Company	$10,650,000	3/31/2009
CSRA Bank Corp.	$2,400,000	3/31/2009
CVB Financial Corp.	$130,000,000	3/31/2009
D.L. Evans Bancorp	$19,891,000	3/31/2009
DeSoto County Bank	$1,173,000	3/31/2009
Dickinson Financial Corporation	$146,053,000	3/31/2009
Discover Financial Services	$1,224,558,000	3/31/2009
DNB Financial Corporation	$11,750,000	3/31/2009
Eagle Bancorp, Inc.	$38,235,000	3/31/2009
East West Bancorp	$306,546,000	3/31/2009
Eastern Virginia Bankshares, Inc.	$24,000,000	3/31/2009
ECB Bancorp, Inc./East Carolina Bank	$17,949,000	3/31/2009
Emclaire Financial Corp.	$7,500,000	3/31/2009
Encore Bancshares Inc.	$34,000,000	3/31/2009
Enterprise Financial Services Corp.	$35,000,000	3/31/2009
Equity Bancshares, Inc.	$8,750,000	3/31/2009
Exchange Bank	$43,000,000	3/31/2009
F & M Bancshares, Inc.	$4,609,000	3/31/2009
F & M Financial Corporation	$17,000,000	3/31/2009
F&M Financial Corporation	$17,243,000	3/31/2009
F.N.B. Corporation	$100,000,000	3/31/2009
Farmers & Merchants Bancshares, Inc.	$11,000,000	3/31/2009
Farmers & Merchants Financial Corporation	$442,000	3/31/2009
Farmers Bank	$8,752,000	3/31/2009
Farmers Capital Bank Corporation	$30,000,000	3/31/2009
Farmers State Bankshares, Inc.	$700,000	3/31/2009
FCB Bancorp, Inc.	$9,294,000	3/31/2009
FFW Corporation	$7,289,000	3/31/2009
Fidelity Bancorp, Inc.	$7,000,000	3/31/2009
Fidelity Financial Corporation	$36,282,000	3/31/2009
Fidelity Southern Corporation	$48,200,000	3/31/2009
Fifth Third Bancorp	$3,408,000,000	3/31/2009
Financial Institutions, Inc.	$37,515,000	3/31/2009
Financial Security Corporation	$5,000,000	3/31/2009
First American International Corp.	$17,000,000	3/31/2009
First Bancorp	$65,000,000	3/31/2009
First Bancorp	$400,000,000	3/31/2009
First BancTrust Corporation	$7,350,000	3/31/2009
First Bank of Charleston, Inc.	$3,345,000	3/31/2009
First Bankers Trustshares, Inc.	$10,000,000	3/31/2009
First Banks, Inc.	$295,400,000	3/31/2009
First Busey Corporation	$100,000,000	3/31/2009
First Business Bank, N.A.	$2,211,000	3/31/2009
First California Financial Group, Inc.	$25,000,000	3/31/2009
First Capital Bancorp, Inc.	$10,958,000	3/31/2009
First Choice Bank	$2,200,000	3/31/2009
First Citizens Banc Corp.	$23,184,000	3/31/2009
First Colebrook Bancorp, Inc.	$4,500,000	3/31/2009
First Community Bank Corporation	$10,685,000	3/31/2009
First Community Bankshares Inc.	$41,500,000	3/31/2009
First Community Corporation	$11,350,000	3/31/2009
First Defiance Financial Corp.	$37,000,000	3/31/2009
First Express of Nebraska, Inc.	$5,000,000	3/31/2009
First Federal Bancshares of Arkansas, Inc.	$16,500,000	3/31/2009
First Financial Bancorp	$80,000,000	3/31/2009
First Financial Holdings Inc.	$65,000,000	3/31/2009
First Financial Service Corporation	$20,000,000	3/31/2009
First Gothenburg Bancshares, Inc.	$7,570,000	3/31/2009
First Horizon National Corporation	$866,540,000	3/31/2009
First Intercontinental Bank	$6,398,000	3/31/2009
First Litchfield Financial Corporation	$10,000,000	3/31/2009
First M&F Corporation	$30,000,000	3/31/2009
First Manitowoc Bancorp, Inc.	$12,000,000	3/31/2009
First Market Bank, FSB	$33,900,000	3/31/2009
First Menasha Bancshares, Inc.	$4,797,000	3/31/2009
First Merchants Corporation	$116,000,000	3/31/2009
First Midwest Bancorp, Inc.	$193,000,000	3/31/2009
First National Corporation	$13,900,000	3/31/2009
First NBC Bank Holding Company	$17,836,000	3/31/2009
First Niagara Financial Group	$184,011,000	3/31/2009
First Northern Community Bancorp	$17,390,000	3/31/2009
First PacTrust Bancorp, Inc.	$19,300,000	3/31/2009
First Place Financial Corp.	$72,927,000	3/31/2009
First Priority Financial Corp.	$4,579,000	3/31/2009
First Reliance Bancshares, Inc.	$15,349,000	3/31/2009
First Resource Bank	$2,600,000	3/31/2009
First Security Group, Inc.	$33,000,000	3/31/2009
First Sound Bank	$7,400,000	3/31/2009
First Southern Bancorp, Inc.	$10,900,000	3/31/2009
First Southwest Bancorporation, Inc.	$5,500,000	3/31/2009
First State Bank of Mobeetie	$731,000	3/31/2009
First Texas BHC, Inc.	$13,533,000	3/31/2009
First ULB Corp.	$4,900,000	3/31/2009
First United Corporation	$30,000,000	3/31/2009
First Western Financial, Inc.	$8,559,000	3/31/2009
Firstbank Corporation	$33,000,000	3/31/2009
FirstMerit Corporation	$125,000,000	3/31/2009
Flagstar Bancorp, Inc.	$266,657,000	3/31/2009
Florida Business BancGroup, Inc.	$9,495,000	3/31/2009
Flushing Financial Corporation	$70,000,000	3/31/2009
FNB Bancorp	$12,000,000	3/31/2009
FNB United Corp.	$51,500,000	3/31/2009
Fortune Financial Corporation	$3,100,000	3/31/2009
FPB Bancorp, Inc.	$5,800,000	3/31/2009
FPB Financial Corp.	$3,240,000	3/31/2009
Fresno First Bank	$1,968,000	3/31/2009
Fulton Financial Corporation	$376,500,000	3/31/2009
Georgia Commerce Bancshares, Inc.	$8,700,000	3/31/2009
Germantown Capital Corporation, Inc.	$4,967,000	3/31/2009
Goldwater Bank, N.A.	$2,568,000	3/31/2009
GrandSouth BanCorporation	$9,000,000	3/31/2009
Great Southern Bancorp	$58,000,000	3/31/2009
Green Bankshares, Inc.	$72,278,000	3/31/2009
Green Circle Investments, Inc.	$2,400,000	3/31/2009
Green City Bancshares, Inc.	$651,000	3/31/2009
Greer Bancshares Incorporated	$9,993,000	3/31/2009
Gregg Bancshares, Inc.	$825,000	3/31/2009
Guaranty Bancorp, Inc.	$6,920,000	3/31/2009
Guaranty Federal Bancshares, Inc.	$17,000,000	3/31/2009
Hamilton State Bancshares	$7,000,000	3/31/2009
Hampton Roads Bankshares, Inc.	$80,347,000	3/31/2009
Haviland Bancshares, Inc.	$425,000	3/31/2009
Hawthorn Bancshares, Inc.	$30,255,000	3/31/2009
HCSB Financial Corporation	$12,895,000	3/31/2009
Heartland Financial USA, Inc.	$81,698,000	3/31/2009
Heritage Commerce Corp.	$40,000,000	3/31/2009
Heritage Financial Corporation	$24,000,000	3/31/2009
Heritage Oaks Bancorp	$21,000,000	3/31/2009
HF Financial Corp.	$25,000,000	3/31/2009
Highlands Independent Bancshares, Inc.	$6,700,000	3/31/2009
Hilltop Community Bancorp, Inc.	$4,000,000	3/31/2009
HMN Financial, Inc.	$26,000,000	3/31/2009
Home Bancshares, Inc.	$50,000,000	3/31/2009
Hometown Bancorp of Alabama, Inc.	$3,250,000	3/31/2009
Hometown Bancshares, Inc.	$1,900,000	3/31/2009
HopFed Bancorp	$18,400,000	3/31/2009
Horizon Bancorp	$25,000,000	3/31/2009
Howard Bancorp, Inc.	$5,983,000	3/31/2009
Huntington Bancshares	$1,398,071,000	3/31/2009
Hyperion Bank	$1,552,000	3/31/2009
Iberiabank Corporation	$90,000,000	3/31/2009
IBT Bancorp, Inc.	$2,295,000	3/31/2009
IBW Financial Corporation	$6,000,000	3/31/2009
ICB Financial	$6,000,000	3/31/2009
Idaho Bancorp	$6,900,000	3/31/2009
Independence Bank	$1,065,000	3/31/2009
Independent Bank Corp.	$78,158,000	3/31/2009
Independent Bank Corporation	$72,000,000	3/31/2009
Indiana Community Bancorp	$21,500,000	3/31/2009
Integra Bank Corporation	$83,586,000	3/31/2009
Intermountain Community Bancorp	$27,000,000	3/31/2009
International Bancshares Corporation	$216,000,000	3/31/2009
Intervest Bancshares Corporation	$25,000,000	3/31/2009
JPMorgan Chase & Co.	$25,000,000,000	3/31/2009
Katahdin Bankshares Corp.	$10,449,000	3/31/2009
KeyCorp	$2,500,000,000	3/31/2009
Kirksville Bancorp, Inc.	$470,000	3/31/2009
Lafayette Bancorp, Inc.	$1,998,000	3/31/2009
Lakeland Bancorp, Inc.	$59,000,000	3/31/2009
Lakeland Financial Corporation	$56,044,000	3/31/2009
LCNB Corp.	$13,400,000	3/31/2009
Leader Bancorp, Inc.	$5,830,000	3/31/2009
Legacy Bancorp, Inc.	$5,498,000	3/31/2009
Liberty Bancshares, Inc.	$57,500,000	3/31/2009
Liberty Bancshares, Inc.	$21,900,000	3/31/2009
Liberty Financial Services, Inc.	$5,645,000	3/31/2009
Liberty Shares, Inc.	$17,280,000	3/31/2009
LNB Bancorp Inc.	$25,223,000	3/31/2009
Lone Star Bank	$3,072,000	3/31/2009
LSB Corporation	$15,000,000	3/31/2009
M&T Bank Corporation	$600,000,000	3/31/2009
Madison Financial Corporation	$3,370,000	3/31/2009
Magna Bank	$13,795,000	3/31/2009
MainSource Financial Group, Inc.	$57,000,000	3/31/2009
Manhattan Bancorp	$1,700,000	3/31/2009
Marine Bank & Trust Company	$3,000,000	3/31/2009
Market Bancorporation, Inc.	$2,060,000	3/31/2009
Marquette National Corporation	$35,500,000	3/31/2009
Marshall & Ilsley Corporation	$1,715,000,000	3/31/2009
Maryland Financial Bank	$1,700,000	3/31/2009
MB Financial Inc.	$196,000,000	3/31/2009
Medallion Bank	$11,800,000	3/31/2009
Mercantile Capital Corp.	$3,500,000	3/31/2009
Merchants and Planters Bancshares, Inc.	$1,881,000	3/31/2009
Meridian Bank	$6,200,000	3/31/2009
Metro City Bank	$7,700,000	3/31/2009
MetroCorp Bancshares, Inc.	$45,000,000	3/31/2009
Metropolitan Capital Bancorp, Inc.	$2,040,000	3/31/2009
Mid Penn Bancorp, Inc.	$10,000,000	3/31/2009
Mid-Wisconsin Financial Services, Inc.	$10,000,000	3/31/2009
Middleburg Financial Corporation	$22,000,000	3/31/2009
Midland States Bancorp, Inc.	$10,189,000	3/31/2009
MidSouth Bancorp, Inc.	$20,000,000	3/31/2009
Midtown Bank & Trust Company	$5,222,000	3/31/2009
Midwest Banc Holdings, Inc.	$84,784,000	3/31/2009
Midwest Regional Bancorp, Inc.	$700,000	3/31/2009
MidWestOne Financial Group, Inc.	$16,000,000	3/31/2009
Millennium Bancorp, Inc.	$7,260,000	3/31/2009
Mission Community Bancorp	$5,116,000	3/31/2009
Mission Valley Bancorp	$5,500,000	3/31/2009
Monadnock Bancorp, Inc.	$1,834,000	3/31/2009
Monarch Community Bancorp, Inc.	$6,785,000	3/31/2009
Monarch Financial Holdings, Inc.	$14,700,000	3/31/2009
Moneytree Corporation	$9,516,000	3/31/2009
Monument Bank	$4,734,000	3/31/2009
Morgan Stanley	$10,000,000,000	3/31/2009
Morrill Bancshares, Inc.	$13,000,000	3/31/2009
Moscow Bancshares, Inc.	$6,216,000	3/31/2009
MS Financial, Inc.	$7,723,000	3/31/2009
MutualFirst Financial, Inc.	$32,382,000	3/31/2009
Naples Bancorp, Inc.	$4,000,000	3/31/2009
Nara Bancorp, Inc.	$67,000,000	3/31/2009
National Bancshares, Inc.	$24,664,000	3/31/2009
National Penn Bancshares, Inc.	$150,000,000	3/31/2009
NCAL Bancorp	$10,000,000	3/31/2009
New Hampshire Thrift Bancshares, Inc.	$10,000,000	3/31/2009
New York Private Bank & Trust Corporation	$267,274,000	3/31/2009
NewBridge Bancorp	$52,372,000	3/31/2009
Nicolet Bankshares, Inc.	$14,964,000	3/31/2009
North Central Bancshares, Inc.	$10,200,000	3/31/2009
Northeast Bancorp	$4,227,000	3/31/2009
Northern States Financial Corporation	$17,211,000	3/31/2009
Northern Trust Corporation	$1,576,000,000	3/31/2009
Northway Financial, Inc.	$10,000,000	3/31/2009
Northwest Bancorporation, Inc.	$10,500,000	3/31/2009
Northwest Commercial Bank	$1,992,000	3/31/2009
Oak Ridge Financial Services, Inc.	$7,700,000	3/31/2009
Oak Valley Bancorp	$13,500,000	3/31/2009
OceanFirst Financial Corp.	$38,263,000	3/31/2009
Ojai Community Bank	$2,080,000	3/31/2009
Old Line Bancshares, Inc.	$7,000,000	3/31/2009
Old National Bancorp	$100,000,000	3/31/2009
Old Second Bancorp, Inc.	$73,000,000	3/31/2009
Omega Capital Corp.	$2,816,000	3/31/2009
OneUnited Bank	$12,063,000	3/31/2009
Pacific Capital Bancorp	$180,634,000	3/31/2009
Pacific City Financial Corporation	$16,200,000	3/31/2009
Pacific Coast Bankers’ Bancshares	$11,600,000	3/31/2009
Pacific Coast National Bancorp	$4,120,000	3/31/2009
Pacific Commerce Bank	$4,060,000	3/31/2009
Pacific International Bancorp	$6,500,000	3/31/2009
Park Bancorporation, Inc.	$23,200,000	3/31/2009
Park National Corporation	$100,000,000	3/31/2009
Parke Bancorp, Inc.	$16,288,000	3/31/2009
Parkvale Financial Corporation	$31,762,000	3/31/2009
Pascack Community Bank	$3,756,000	3/31/2009
Patapsco Bancorp, Inc.	$6,000,000	3/31/2009
Pathway Bancorp	$3,727,000	3/31/2009
Patriot Bancshares, Inc.	$26,038,000	3/31/2009
Patterson Bancshares, Inc.	$3,690,000	3/31/2009
Peapack-Gladstone Financial Corporation	$28,685,000	3/31/2009
Peninsula Bank Holding Co.	$6,000,000	3/31/2009
Penn Liberty Financial Corp.	$9,960,000	3/31/2009
Peoples Bancorp	$18,000,000	3/31/2009
Peoples Bancorp Inc.	$39,000,000	3/31/2009
Peoples Bancorp of North Carolina, Inc.	$25,054,000	3/31/2009
Peoples Bancshares of TN, Inc.	$3,900,000	3/31/2009
PeoplesSouth Bancshares, Inc.	$12,325,000	3/31/2009
PGB Holdings, Inc.	$3,000,000	3/31/2009
Pierce County Bancorp	$6,800,000	3/31/2009
Pinnacle Bank Holding Company, Inc.	$4,389,000	3/31/2009
Pinnacle Financial Partners, Inc.	$95,000,000	3/31/2009
Plains Capital Corporation	$87,631,000	3/31/2009
Plumas Bancorp	$11,949,000	3/31/2009
Popular, Inc.	$935,000,000	3/31/2009
Porter Bancorp Inc.	$35,000,000	3/31/2009
Prairie Star Bancshares, Inc.	$2,800,000	3/31/2009
Premier Bank Holding Company	$9,500,000	3/31/2009
Premier Service Bank	$4,000,000	3/31/2009
PremierWest Bancorp	$41,400,000	3/31/2009
Princeton National Bancorp, Inc.	$25,083,000	3/31/2009
Private Bancorporation, Inc.	$4,960,000	3/31/2009
PrivateBancorp, Inc.	$243,815,000	3/31/2009
Provident Bancshares Corp.	$151,500,000	3/31/2009
Provident Community Bancshares, Inc.	$9,266,000	3/31/2009
PSB Financial Corporation	$9,270,000	3/31/2009
Puget Sound Bank	$4,500,000	3/31/2009
Pulaski Financial Corp	$32,538,000	3/31/2009
QCR Holdings, Inc.	$38,237,000	3/31/2009
Redwood Capital Bancorp	$3,800,000	3/31/2009
Redwood Financial Inc.	$2,995,000	3/31/2009
Regent Bancorp, Inc.	$9,982,000	3/31/2009
Regent Capital Corporation	$2,655,000	3/31/2009
Regional Bankshares, Inc.	$1,500,000	3/31/2009
Regions Financial Corp.	$3,500,000,000	3/31/2009
Reliance Bancshares, Inc.	$40,000,000	3/31/2009
Ridgestone Financial Services, Inc.	$10,900,000	3/31/2009
Rising Sun Bancorp	$5,983,000	3/31/2009
Rogers Bancshares, Inc.	$25,000,000	3/31/2009
Royal Bancshares of Pennsylvania, Inc.	$30,407,000	3/31/2009
S&T Bancorp	$108,676,000	3/31/2009
Saigon National Bank	$1,549,000	3/31/2009
Salisbury Bancorp, Inc.	$8,816,000	3/31/2009
Sandy Spring Bancorp, Inc.	$83,094,000	3/31/2009
Santa Clara Valley Bank, N.A.	$2,900,000	3/31/2009
Santa Lucia Bancorp	$4,000,000	3/31/2009
SBT Bancorp, Inc.	$4,000,000	3/31/2009
SCBT Financial Corporation	$64,779,000	3/31/2009
Seacoast Banking Corporation	$50,000,000	3/31/2009
Seacoast Commerce Bank	$1,800,000	3/31/2009
Seaside National Bank & Trust	$5,677,000	3/31/2009
Security Bancshares of Pulaski County, Inc.	$2,152,000	3/31/2009
Security Business Bancorp	$5,803,000	3/31/2009
Security California Bancorp	$6,815,000	3/31/2009
Security Federal Corporation	$18,000,000	3/31/2009
Security State Bancshares, Inc.	$12,500,000	3/31/2009
Severn Bancorp, Inc.	$23,393,000	3/31/2009
Shore Bancshares, Inc.	$25,000,000	4/15/2009
Signature Bank	$120,000,000	3/31/2009
Somerset Hills Bancorp	$7,414,000	3/31/2009
Sonoma Valley Bancorp	$8,653,000	3/31/2009
Sound Banking Company	$3,070,000	3/31/2009
South Financial Group, Inc.	$347,000,000	3/31/2009
Southern Bancorp, Inc.	$11,000,000	3/31/2009
Southern Community Financial Corp.	$42,750,000	3/31/2009
Southern First Bancshares, Inc.	$17,299,000	3/31/2009
Southern Illinois Bancorp, Inc.	$5,000,000	3/31/2009
Southern Missouri Bancorp, Inc.	$9,550,000	3/31/2009
Southwest Bancorp, Inc.	$70,000,000	3/31/2009
Sovereign Bancshares, Inc.	$18,215,000	3/31/2009
Spirit BankCorp, Inc.	$30,000,000	3/31/2009
St. Johns Bancshares, Inc.	$3,000,000	3/31/2009
State Bancorp, Inc.	$36,842,000	3/31/2009
State Bankshares, Inc.	$50,000,000	3/31/2009
State Capital Corporation	$15,000,000	3/31/2009
State Street Corporation	$2,000,000,000	3/31/2009
StellarOne Corporation	$30,000,000	3/31/2009
Sterling Bancorp	$42,000,000	3/31/2009
Sterling Bancshares, Inc.	$125,198,000	3/31/2009
Sterling Financial Corporation	$303,000,000	3/31/2009
Stewardship Financial Corporation	$10,000,000	3/31/2009
Stockmens Financial Corporation	$15,568,000	3/31/2009
Stonebridge Financial Corp.	$10,973,000	3/31/2009
Summit State Bank	$8,500,000	3/31/2009
Sun Bancorp, Inc.	$89,310,000	4/8/2009
SunTrust Banks, Inc.	$3,500,000,000	3/31/2009
SunTrust Banks, Inc.	$1,350,000,000	3/31/2009
Superior Bancorp Inc.	$69,000,000	3/31/2009
Surrey Bancorp	$2,000,000	3/31/2009
Susquehanna Bancshares, Inc.	$300,000,000	3/31/2009
SV Financial, Inc.	$4,000,000	3/31/2009
SVB Financial Group	$235,000,000	3/31/2009
Synovus Financial Corp.	$967,870,000	3/31/2009
Syringa Bancorp	$8,000,000	3/31/2009
Taylor Capital Group	$104,823,000	3/31/2009
TCB Holding Company, Texas Community Bank	$11,730,000	3/31/2009
TCF Financial Corporation	$361,172,000	3/31/2009
TCNB Financial Corp.	$2,000,000	3/31/2009
Tennessee Commerce Bancorp, Inc.	$30,000,000	3/31/2009
Tennessee Valley Financial Holdings, Inc.	$3,000,000	3/31/2009
Texas Capital Bancshares, Inc.	$75,000,000	3/31/2009
Texas National BanCorporation	$3,981,000	3/31/2009
The Bancorp, Inc.	$45,220,000	3/31/2009
The Bank of Currituck	$4,021,000	3/31/2009
The Bank of Kentucky Financial Corporation	$34,000,000	3/31/2009
The Baraboo BanCorporation	$20,749,000	3/31/2009
The Connecticut Bank and Trust Company	$5,448,000	3/31/2009
The Elmira Savings Bank, FSB	$9,090,000	3/31/2009
The First Bancorp, Inc.	$25,000,000	3/31/2009
The First Bancshares, Inc.	$5,000,000	3/31/2009
The Freeport State Bank	$301,000	3/31/2009
The Goldman Sachs Group, Inc.	$10,000,000,000	3/31/2009
The Little Bank, Inc.	$7,500,000	3/31/2009
The PNC Financial Services Group Inc.	$7,579,200,000	3/31/2009
The Private Bank of California	$5,450,000	3/31/2009
The Queensborough Company	$12,000,000	3/31/2009
The Victory Bank	$541,000	3/31/2009
TIB Financial Corp.	$37,000,000	3/31/2009
Tidelands Bancshares, Inc.	$14,448,000	3/31/2009
Tifton Banking Company	$3,800,000	3/31/2009
Timberland Bancorp, Inc.	$16,641,000	3/31/2009
Titonka Bancshares, Inc.	$2,117,000	3/31/2009
Todd Bancshares, Inc.	$4,000,000	3/31/2009
TowneBank	$76,458,000	3/31/2009
Treaty Oak Bancorp, Inc.	$3,268,000	3/31/2009
Tri-County Financial Corporation	$15,540,000	3/31/2009
Tri-State Bank of Memphis	$2,795,000	3/31/2009
Triad Bancorp, Inc.	$3,700,000	3/31/2009
Trinity Capital Corporation	$35,539,000	3/31/2009
TriState Capital Holdings, Inc.	$23,000,000	3/31/2009
TriSummit Bank	$2,765,000	3/31/2009
Trustmark Corporation	$215,000,000	3/31/2009
U.S. Bancorp	$6,599,000,000	3/31/2009
UBT Bancshares, Inc.	$8,950,000	3/31/2009
UCBH Holdings, Inc.	$298,737,000	3/31/2009
Umpqua Holdings Corp.	$214,181,000	3/31/2009
Union Bankshares Corporation	$59,000,000	3/31/2009
United American Bank	$8,700,000	3/31/2009
United Bancorp, Inc.	$20,600,000	3/31/2009
United BanCorporation	$10,300,000	3/31/2009
United Community Banks, Inc.	$180,000,000	3/31/2009
United Financial Banking Companies, Inc.	$5,658,000	3/31/2009
Unity Bancorp, Inc.	$20,649,000	3/31/2009
US Metro Bank	$2,861,000	3/31/2009
Uwharrie Capital Corp	$10,000,000	3/31/2009
Valley Commerce Bancorp	$7,700,000	3/31/2009
Valley Community Bank	$5,500,000	3/31/2009
Valley Financial Corporation	$16,019,000	3/31/2009
Valley National Bancorp	$300,000,000	3/31/2009
Virginia Commerce Bancorp	$71,000,000	3/31/2009
VIST Financial Corp.	$25,000,000	3/31/2009
W.T.B. Financial Corporation	$110,000,000	3/31/2009
Wainwright Bank & Trust Company	$22,000,000	3/31/2009
Washington Banking Company/Whidbey Island Bank	$26,380,000	3/31/2009
Washington Federal Inc.	$200,000,000	3/31/2009
WashingtonFirst Bank	$6,633,000	3/31/2009
Webster Financial Corporation	$400,000,000	3/31/2009
Wells Fargo & Company	$25,000,000,000	3/31/2009
Wesbanco Bank Inc.	$75,000,000	3/31/2009
West Bancorporation, Inc.	$36,000,000	3/31/2009
Westamerica BanCorporation	$83,726,000	3/31/2009
Western Alliance BanCorporation	$140,000,000	3/31/2009
Western Community Bancshares, Inc.	$7,290,000	3/31/2009
Western Illinois Bancshares Inc.	$6,855,000	3/31/2009
White River Bancshares Company	$16,800,000	3/31/2009
Whitney Holding Corporation	$300,000,000	3/31/2009
Wilmington Trust Corporation	$330,000,000	3/31/2009
Wilshire Bancorp, Inc.	$62,158,000	3/31/2009
Wintrust Financial Corporation	$250,000,000	3/31/2009
WSFS Financial Corporation	$52,625,000	3/31/2009
Yadkin Valley Financial Corporation	$36,000,000	3/31/2009
Zions BanCorporation	$1,400,000,000	3/31/2009
Total: $198,888,248,000 Firms Participating: 555

GM took the FEDERAL help, to “help” it weather the time of losses by getting time to propose a financial restructuring. The FEDS have provided it with $27 BILLION so far of helpful loans to continue operations.

They were supposed to present a plan for its own recovery as a condition of receiving more aid.

Now the FEDS have taken a page out of the screenplay from the GODFATHER movie, and given the creditors of GM “a deal that they can not refuse.”

The Feds have proposed that holders of $27 billion in existing bonds, “exchange” them for a 10% equity stake in the new GM business, while the FEDERAL $27 billion in loans be exchanged for a 50% equity stake. Nice deal, if you have a gun to your head.

The UAW would “give up”claims” calculated at $20 billion, and would receive a 39% stake in the new business.

Finally, the existing stockholders, those people who actually provided all the capital over the last 80 years or so, would receive a 1% equity stake in the new business.

So this is the price for the government help-push out all the free market loans aside, push out the stockholders and elbow-in the government and the unions for a 89% ownership interest.

GM’s CFO said that if the various debt/bond holders do not accept this plan, he would ask a bankruptcy court to cram down this plan in any bankruptcy reorganization.

As a side note, many of the bonds and debt held is held by banks that are themselves part of the FED’s “helping hand” program, so please explain to us how exactly does this work?

The taxpayers give money to GM, then GM converts that money into worthless stock and the banks keep the money they got…say again?

Word of advice, don’t take the money when it’s offered, when someone says, ” I’m from the government, and I am here to help.”

This negative report was greeted by the market as positive, go figure.

The Commerce Department’s report, released Wednesday, dashed hopes that the recession’s grip on the country loosened in the first quarter. Economists surveyed expected a 5 percent annualized decline.

Instead, the economy ended up performing nearly as bad as it had in the final three months of last year when it logged the worst slide in a quarter-century, contracting at a 6.3 percent pace. Nervous consumers played a prominent role in that dismal showing as they ratcheted back spending in the face of rising unemployment, falling home values and shrinking nest eggs.

In the first quarter consumers came back to spending, boosting their spending after two straight quarters of reductions. The 2.2 percent growth rate was the strongest in two years. Wow, is that a sign of recovery, or could this be the effect of the shopping done at all the store closings and liquidation sales?

Still, the consumer rebound was swamped by heavy spending cuts in virtually every other area.

Businesses cut spending on home building, commercial construction, equipment and software, and inventories of goods. Sales of U.S. goods to foreign buyers plunged as they retrenched in the face of economic troubles in their own countries. Even the government ( yeah right) trimmed spending. It was the first time that happened since the end of 2005.

The sharp cuts underscore the toll the housing, credit and financial crises — the worst since the 1930s — are having on the country. The recession, which began in December 2007, has taken a big bite out of national economic activity and snatched 5.1 million jobs.

As a way to cushion the impact of the downturn, the Federal Reserve has slashed a key bank lending rate to a record low near zero and rolled out a string of radical programs to spur lending. The Fed at the end of its two-day meeting Wednesday is expected to keep its key rate near zero and probably hold it there well into next year.

President Barack Obama is counting on his $787 billion stimulus of tax cuts and increased government spending on big public works projects to help bolster economic activity later this year. The administration also has put forward programs to rescue banks and curb home foreclosures — big negative forces weighing on the economy.

The weaker-than-expected report had some analysts stuck to predictions that the economy would shrink less in the current April-June period — at a pace of 1 to 2.5 percent — as Obama’s stimulus begins to take hold. Those analysts also continue to hope the economy would start to grow again in the final quarter of this year.

“The recession was bad in the first quarter but won’t be as bad going forward,” said John Silvia, chief economist at Wachovia. “I don’t think this lessens the expected pattern that the economy will be entering a recovery by the end of this year.”

Now I ask you where is this guy living, his bank just got taken over!

Recent outbreak of the swine flu, which started out in Mexico and has spread to the United States and elsewhere, poses a new potential economic decline danger. The flu might stifle trade and may force consumers to cut back further, those negatives would worsen the recession.

I have not heard from anyone that they as businessmen, expect a robust year or improvement for their business in 2009. A recent survey by a business publication showed that fully 67% of business CFO’s expected a lower profit year in 2009, only 13% expected better, and 20% expected the same results.

“I’m from the government and I am here to help you,” is the scariest statement that a business or individual would like to hear.

For instance, just look at the mixed signals sent to us every day by economic gurus, government financial advisers, economists, money advice talk show hosts, TV shows about personal finance and the financial media.

The most conservative financial advisers always suggest that we start a savings program, and they all show how after putting away a few dollars every week, after 20 or 30 years…presto, we will have a few million dollars in savings.

However, the American economy is a consumer driven economy. It is driven by consumer spending which accounts for approximately 70% of the total of the goods and services produced.

Why heck, we drive all the world’s economies by what we consume in America, as we buy goods from all countries. American buy anything and everything; have you ever seen a SKYMALL catalog? I did not think I needed a garden thermometer shaped like a caterpillar, made in Sri Lanka until I saw it for only $4.99 in a catalog along with the matching barometer.That folks is called disposable income, and our government wants us to spend it all, otherwise it will spend it for us, on our behalf-hopefully not buying thermometers shaped like caterpillars.

The President wants us to spend more to help the “recovery”, and since we are not spending enough, he has taken our money and is spending it for us, apparently for our own good.

Then on the other hand, smart financial advisers tell us to stop all that spending, to cut back in these tough economic times and NOT buy anyhing we do not need, and to save our money.

So, what are we to do? Save, and save for a rainy day, or spend everything we have and maybe more by charging all our purchased on credit cards with 29.9% rates or higher?

Mixed signals, all around.

It can be summed up this way; we spend and borrow when we feel good about the future, and we do not spend, and tend to save when we do not.

So, when will there be a recovery, when will people start to spend buying all those caterlippal shaped theremometers again to revive our retailers and Sri Lankan factories?

Oh, I forgot, the government wants any extra money you may make as the recovery happens, because it has already spent your future money “helping” you recover.

Further complicating the process is the fact that interest rates are at all time lows, so your savings are earning very little sitting in banks, banks that you may be afraid to put your money into, since they may be seized at any time by the government. Buying government bonds and notes is even worse since their interest rates are even lower than the bank rates, and worse yet, you are lending the government your own money which they took from you in the form of new debt left for your children and grandchildren to pay off.

So, spend, or save?, that is the question…..and the good news/bad news.

We asked, and everyone is confused, but remember, when you SAVE, you are doing YOURSELF good, protecting your own interests. When you spend, you may be doing good for the TAMIL rebels in Sri Lanka who sell those caterpillar shaped thermometers you do not really need.