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Trivial Pursuits => History => Topic started by: Nabubrush on February 22, 2012, 03:32:15 am

Title: Capital One acquires ING Direct
Post by: Nabubrush on February 22, 2012, 03:32:15 am: NYT take on it (http://dealbook.nytimes.com/2012/02/14/fed-approves-capital-ones-deal-for-ing-direct/).

I don't really care for Capital One, and I suspect this is going to make me not like ING Direct as much. I'm just assuming that any changes that occur will be for the worse, leaving aside the "too big to fail" thing. I suppose I should flash the ACap signal.
Title: Re: Capital One acquires ING Direct
Post by: theinevitable on February 22, 2012, 06:41:01 am: I spend a lot of time reading things about Finance and listening to a great podcast about finance and economic issues. I think the reason I am so compelled is that none of it makes any sense to me. I don't encounter a lot of things that are this impenetrable. I read about it, I listen to things about it, and the next day if you quizzed me on what a Credit Default Swap is I wouldn't be able to explain it.

(because of the way things work, I actually do know what a Credit Default Swap is. Roughly. But it's hard to think of an example of something you don't know.)
Title: Re: Capital One acquires ING Direct
Post by: Nabubrush on February 22, 2012, 06:43:14 am: Somebody was shown on the board breakdown as reading all those crazy threads about the stock market and shit from back in '08. I glanced back through them this evening because I'm at work and why not, and man there's some interesting shit in there. I think some revisionist history went on in some of them, though.
Title: Re: Capital One acquires ING Direct
Post by: CortJstr on February 22, 2012, 05:48:21 pm: I just want to know how this will affect my personal accounts. Sigh.
Title: Re: Capital One acquires ING Direct
Post by: Nabubrush on February 22, 2012, 05:51:00 pm: Me too. I have sort of a substantial proportion of my holdings tied up with them, and my gut feelings were much more positive toward ING Direct than they are to those other clowns. I'll admit that this may stem from some weird Europhilia or some shit.
Title: Re: Capital One acquires ING Direct
Post by: CortJstr on February 23, 2012, 12:29:08 am: Well if it wasn't Capital One it would've been someone else. ING had to sell their US holdings to somebody. I know a lot of people wanted Ally to buy it but isn't Ally just a re-branding of GMC?
Title: Re: Capital One acquires ING Direct
Post by: Nabubrush on February 23, 2012, 04:29:05 am: Quote from: CortJstr on February 23, 2012, 12:29:08 am
Well if it wasn't Capital One it would've been someone else. ING had to sell their US holdings to somebody. I know a lot of people wanted Ally to buy it but isn't Ally just a re-branding of GMC?

You know more about this than I do, clearly.
Title: Re: Capital One acquires ING Direct
Post by: Arachno-capitalist on July 19, 2012, 03:25:56 am: http://dealbook.nytimes.com/2012/07/18/consumer-watchdog-fines-capital-one-for-deceptive-credit-card-practices/

I'll just leave this here.