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Capital One to buy Discover
Posted by: Ombligo
Date: February 19, 2024 06:36PM
Capital One will pay 1.0192 of its own shares for each Discover share, a 26.6% premium to the closing price on Feb. 16, the firm said in a statement. The transaction is expected to close in late 2024 or early 2025.

The combined companies will surpass longtime rivals JPMorgan Chase & Co. and Citigroup Inc. by US credit-card loan volume.

[www.yahoo.com]

The question will be who will Discover what's in your wallet?



“No persons are more frequently wrong, than those who will not admit they are wrong.” -- François de La Rochefoucauld

"Those who cannot accept the past are condemned to revise it." -- Geo. Mathias

The German word for contraceptive is “Schwangerschaftsverhütungsmittel”. By the time you finished saying that, it’s too late



Edited 1 time(s). Last edit at 02/19/2024 06:36PM by Ombligo.
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Re: Capital One to buy Discover
Posted by: rgG
Date: February 19, 2024 06:50PM
Ugh. I hope they don’t screw with Discover Bank.





Roswell, GA (Atlanta suburb)
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Re: Capital One to buy Discover
Posted by: $tevie
Date: February 19, 2024 10:08PM
This shouldn't be legal.



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Re: Capital One to buy Discover
Posted by: JoeH
Date: February 19, 2024 10:43PM
Dang it! Many years ago I had a card through Capital One, dropped it long ago. So now it looks like I can't get away from them. I hope they don't mess with Discover too much after buying it.
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Re: Capital One to buy Discover
Posted by: graylocks
Date: February 20, 2024 02:12AM
Quote
rgG
Ugh. I hope they don’t screw with Discover Bank.

i have savings with Discover and CapitolOne. I believe the CapOne rate is higher.



If you want to fix our country, work with us in the states. statesproject.org

"Success isn't about how much money you make. It is about the difference you make in people's lives."--Michelle Obama
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Re: Capital One to buy Discover
Posted by: rgG
Date: February 20, 2024 06:53AM
Quote
graylocks
Quote
rgG
Ugh. I hope they don’t screw with Discover Bank.

i have savings with Discover and CapitolOne. I believe the CapOne rate is higher.

Good to know.





Roswell, GA (Atlanta suburb)
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Re: Capital One to buy Discover
Posted by: Lux Interior
Date: February 20, 2024 08:44AM
Quote
$tevie
This shouldn't be legal.

Why not?

It will allow them to leverage their synergies to create a comprehensive user experience. This transformative collaboration marks a pivotal moment in their shared commitment to driving innovation, enhancing customer experiences, and maximizing shareholder value. The merger brings together two industry leaders renowned for their unwavering dedication to excellence, innovation, and customer-centricity. By leveraging our respective strengths and synergies, we are poised to unlock new opportunities for growth, efficiency, and long-term sustainability.

Signed, a CEO who will make millions.
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Re: Capital One to buy Discover
Posted by: Zoidberg
Date: February 20, 2024 09:09AM
Worst financial stumble of my life was due to Discover Card back in the 90s.

I had long-since cancelled the card but they automatically issued a replacement to an old address. Long story short; the person who got it threw it in the garbage, someone fished it out, and ran up about $6000 in gas fill-ups and groceries before it got shut out.

Took me about 5 years to get it fixed and removed from my credit reports. Uphill all the way. Almost kept me from being able to buy my first house.



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Re: Capital One to buy Discover
Posted by: gabester
Date: February 20, 2024 12:23PM
Quote
Lux Interior
Quote
$tevie
This shouldn't be legal.

Why not?

There is strong historical case to be made by markets being better served by more competitors and that consolidation almost always leads to higher prices as the largest providers go rent seeking.

The US financial industry is one of the more heavily regulated in the world, but there have been issues ever since the old post-Depression restrictions were removed in the late 90s. Moreover, the regulators for the largest "too big to fail" financial institutions oftentimes act to preserve the status quo. It makes sense as it's literally where people put their money, the system needs to be reliable, otherwise you have financial chaos the likes of which no one alive remembers (the boom/bust cycles experienced by American farmers and ranchers in the west in the latter half of the 19th century and then increasingly tamed with the inception of the US Federal Reserve System in the early 20th century.)



g=
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Re: Capital One to buy Discover
Posted by: $tevie
Date: February 20, 2024 01:47PM
Quote
Lux Interior
Quote
$tevie
This shouldn't be legal.

Why not?

It will allow them to leverage their synergies to create a comprehensive user experience. This transformative collaboration marks a pivotal moment in their shared commitment to driving innovation, enhancing customer experiences, and maximizing shareholder value. The merger brings together two industry leaders renowned for their unwavering dedication to excellence, innovation, and customer-centricity. By leveraging our respective strengths and synergies, we are poised to unlock new opportunities for growth, efficiency, and long-term sustainability.

Signed, a CEO who will make millions.

smiley-laughing001 You missed your calling as a press release writer.



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Re: Capital One to buy Discover
Posted by: Acer
Date: February 21, 2024 11:01AM
Quote
$tevie
Quote
Lux Interior
Quote
$tevie
This shouldn't be legal.

Why not?

It will allow them to leverage their synergies to create a comprehensive user experience. This transformative collaboration marks a pivotal moment in their shared commitment to driving innovation, enhancing customer experiences, and maximizing shareholder value. The merger brings together two industry leaders renowned for their unwavering dedication to excellence, innovation, and customer-centricity. By leveraging our respective strengths and synergies, we are poised to unlock new opportunities for growth, efficiency, and long-term sustainability.

Signed, a CEO who will make millions.

smiley-laughing001 You missed your calling as a press release writer.

Just for giggles, i asked ChatGPT to generate a 100 word justification for a large bank merger. It said:
"Merging large banks enhances stability, efficiency, and innovation. It fosters stability by fortifying financial positions, streamlines operations, and boosts competitiveness. This efficiency reduces costs and improves customer service. Mergers provide access to new markets, talent, and technologies, benefiting consumers and adapting to market demands. Additionally, consolidation facilitates regulatory compliance, ensuring a more stable and transparent financial system. Overall, allowing large banks to merge promotes a stronger, more resilient banking sector, driving innovation and better meeting the needs of customers in a competitive global economy."

Conclusion: Lux is AI.
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Re: Capital One to buy Discover
Posted by: PeterB
Date: February 21, 2024 07:07PM
Quote
Acer
Quote
$tevie
Quote
Lux Interior
Quote
$tevie
This shouldn't be legal.

Why not?

It will allow them to leverage their synergies to create a comprehensive user experience. This transformative collaboration marks a pivotal moment in their shared commitment to driving innovation, enhancing customer experiences, and maximizing shareholder value. The merger brings together two industry leaders renowned for their unwavering dedication to excellence, innovation, and customer-centricity. By leveraging our respective strengths and synergies, we are poised to unlock new opportunities for growth, efficiency, and long-term sustainability.

Signed, a CEO who will make millions.

smiley-laughing001 You missed your calling as a press release writer.

Just for giggles, i asked ChatGPT to generate a 100 word justification for a large bank merger. It said:
"Merging large banks enhances stability, efficiency, and innovation. It fosters stability by fortifying financial positions, streamlines operations, and boosts competitiveness. This efficiency reduces costs and improves customer service. Mergers provide access to new markets, talent, and technologies, benefiting consumers and adapting to market demands. Additionally, consolidation facilitates regulatory compliance, ensuring a more stable and transparent financial system. Overall, allowing large banks to merge promotes a stronger, more resilient banking sector, driving innovation and better meeting the needs of customers in a competitive global economy."

Conclusion: Lux is AI.

Conclusion: AI is artificial stupidity.




Freya says, 'Hello from NOLA, baby!' (Laissez bon temps rouler!)
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