Because the TD deal is off, First Horizon is imploding!
Canada’s Toronto-Dominion Bank Group (TD.TO) on Thursday called off its $13.4 billion takeover of First Horizon Corp (FHN.N), triggering a near 40% fall in the U.S. regional bank’s shares, reports Reuters.
First Horizon and TD said in a statement they had mutually decided to end the deal because there was no clarity on when they would get regulatory approvals. TD will pay $200 million to First Horizon, in addition to a $25 million fee reimbursement.
TD agreed to buy the bank in February, but they already have a stake in Charles Schwab. One analyst said they are concerned “about the bank’s ability to deploy excess capital into the U.S. market given regulatory headwinds that could persist for the foreseeable future.”
But our government and the Federal Reserve tell us the banking system is stable.
Another bank in trouble after TD walks away.
— Wall Street Silver (@WallStreetSilv) May 4, 2023
First Horizon Shares Crash After TD Bank Deal “Terminated” https://t.co/ZMBZL9plVz
— zerohedge (@zerohedge) May 4, 2023
The Collapse of the Smaller Banks
We are looking at the collapse of smaller banks and the creation of small numbers of banks too big to fail. The goal is nationalization of the banking sector. It’s here. Once they have completed the move to the big bank, CBDCs will be our cash replacement.
The globalists already have five companies running the media. They run Hollywood, along with the senior queer fellows who give us transition surgery for young children and minor-attracted persons.
The schools are gone, and our government is run like a dictatorship by executive agencies and presidential memos and orders.
Now they’re going after our banks and winning. Our regional banks are facing collapse. First Republic started off the week, then came PacWest and Western Alliance, and now it’s First Republic.
If you remember, Janet Yellen very generously ignored the $250,000 FDIC threshold and promised big banks like Silvergate and Silicon Valley she’d pay them whatever they needed to cover deposits. The bigger banks swallowed them up. But, she also said she would not protect banks with a “systemic risk” attached to their holdings.
She picked the big banks as her winners. Yellen sent a message to Americans that their money is only protected in the big banks.
Numerous smaller banks are heading for firesales or government takeovers. When Barack Obama was president, he pushed for bigger banks and abandoned smaller banks. So, here we are again.
I don’t see any of this as stupidity or the result of an accident. For example, Janet Yellen graduated summa cum laude from Brown and has a Ph.D. in economics from Yale. She has decades of experience. Yellen’s old, true, but she isn’t Joe Biden. Her socialist tendencies have been obvious for years.
If they get rid of these pesky smaller banks, they can more easily control a handful of big banks. The CBDCs, which will most definitely take away our privacy, power and freedom, will be under complete government control.
Isn’t it coincidental that the World Economic Forum models stakeholder capitalism after a big bank – CBDC model?