Zions Bancorp is suing the government because they want to be able to keep lying to investors about their financial condition. They got the lobbyist group for small banks to take up their case even though they seem to be the only bank that accumulated such large amounts of worthless CDOs.

http://www.newrepublic.com/article/116054/volcker-rule-lawsuit-small-banks-sue-undo-financial-regulation



Edited 1 time(s). Last edit at 12/30/2013 03:26PM by dazed11.

Very interesting. I guess some of the morg's money is going to have to shore up that bank if taxes dollars can't be used. Or not. It wouldn't be first bank failure in the LDS history.

It's a publicly traded company, I believe on the New York Stock Exchange. The church has no meaningful ownership in it.

Turd Wrote:
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> It's a publicly traded company, I believe on the
> New York Stock Exchange. The church has no
> meaningful ownership in it.

Do you know what percentage of stock in Zions LDS Inc owns?

There are a lot of us that think it is a significant amount from the way Zion's employees are treated.

http://finance.yahoo.com/q/mh?s=ZION+Major+Holders

The info isn't all that hard to come by. If you check the link it will give you the top ten funds and institutions that own the stock as well as offering the Insider Roster and all of the Insider transactions.

It is pretty safe to say that LDS inc's influence on Zions is as their number one customer, not their owner. I wouldn't however want to discount that influence, just categorize it properly.



Edited 1 time(s). Last edit at 12/30/2013 05:45PM by jacob.

I see Goldman Sachs and JP Morgan Chase are #8 and #10 in institutional holdings, and also have mutual funds holding it.

That means tax dollars will shore it up.

Well if LDS Inc was number 16 on the list it wouldn't show up.

Does that list also take into account preferred stock, and any percentage not offered on the market?

This is hilarious. As I posted a few weeks ago a quote from the Deseret News when Monson dedicated the new Zions Building in Provo:

PROVO — LDS Church President Thomas S. Monson joined elected officials, business leaders and prominent Utah County residents Friday to dedicate and celebrate the Zions Bank Financial Center.

"May it ever be a bright and shining star in the business community of Provo, and may its influence extend far and wide," President Monson said of the new headquarters for Zions Bancorp's central Utah region.

In addition to offering a dedicatory prayer, President Monson told those in attendance about some of his boyhood experiences in Utah County and also reaffirmed The Church of Jesus Christ of Latter-day Saints' confidence in the bank.

"You can rest assured that this church doesn't put its investments and its confidence in anything that isn't stable, honorable and (having) a record of performance and integrity," he said.

OMG, not too different from Joseph Smith prophesying that the Kirtland Bank would never fail.

I don't understand. What business does the lds church have praying over and dedicating a public office building?

jackjoseph Wrote:
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> I don't understand. What business does the lds
> church have praying over and dedicating a public
> office building?

Formally:

"Corporation of the Church of Jesus Christ of Latter-Day Saints."

No joke.

more Crapola from Morland.

. . . with insider connections.

An individual working closely with Zions Bank in a Rocky Mountain-area state (which is known but will remain unmentioned here, in order to protect the identity of the informant) is reportedly trying to help the bank solve what has been described as a significant problem facing the bank's profitability.

It is said that a majority of people living in a certain city in this state are of the view that the Mormon Church still owns, or at least controls, Zions Bank and are therefore refusing to do business with it. This problem is said to be a major one that is seriously impacting the bank's bottom line.



Edited 5 time(s). Last edit at 12/30/2013 07:54PM by steve benson.

steve benson Wrote:
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> . . . with insider connections...

>
> ...It is said that a majority of people living in a
> certain city in this state are of the view that
> the Mormon Church still owns, or at least
> controls, Zions Bank and are therefore refusing to
> do business with it.

That is funny and it serves them right. The Mormons have a substantial credibility problem and a perception problem that they are the local bully. I certainly won't have anything to do with anything that I perceive to be Mormon owned, including Marriott. I don't view Mormons favorably or trustworthy. When I talk to Mormon businesses, I cover my wallet with my hand. It comes from years of experience dealing with them.

Why don't they change the bank's name then. I wouldn't do business with "Zion's" bank any more than I would L. Ron Hubbard's bank.

Given the current conditions, perhaps they should change the name to Brigham's Bank. That would allow them to somehow blame BY for the profitability problems...

Interesting. Thanks for sharing that, Steve.

A few years back when there were several bank failures every week, Zion's was often mentioned as one of the worst banks...one that was sure to fail. I'm surprised it's still around.