A bank trying to operate somewhat as a private sector enterprise is in trouble with the regulators.

Pardon my lack of conditioned response. I recall an off-the-record conversation with the CEO of a large bank. He said the regulators had called and said they were changing the guidelines. They didn’t know what the new rules would be, but they knew said CEO’s bank would be out of compliance. That was just before TARP.

The point is, the current presidential administration wants to take over financial institutions, and it has the power to destroy that which won’t cooperate.