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  1.  03:59 PM #1
    Mogul of Pineapples
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    Default $1.2B Given To Discover By The Treasury

    In December the Discover CEO said he expected to ask for 400M to 1.2B from the TARP funds for the company. On Monday it was announced they got on the high end of that amount -- $1.2 billion -- in exchange for 10 year warrants to buy 20.5 million shares and about 1.22 million shares of preferred stock up front. I'm not sure what percentage of the company this represents but $1.2 billion sounds like a significant chunk of Discover based on their current marketcap.
    “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.”
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  2.  02:10 PM #2
    Multi-Purpose
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    I'm surprised Discover needed bailout money when they already got a couple billion from the Visa/Mastercard antitrust settlements recently. That is a lot of money for a company of their size to get. They must be hurting bad then if that wasn't even enough to cover losses.
    Change will not come if we wait for some other person or some other time. We are the ones we've been waiting for. We are the change that we seek.
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  3.  10:01 AM #3
    AnthonyBarone
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    Stock is at 6.36 thats a third of what it was a year ago at this time. Trust me this government dilution has been priced in already.
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  4.  11:32 PM #4
    Cucumber
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    Now Discover is almost back at ten bucks.

    Don't make a panic mistake with the financials if we go through this again. Everyone sold B of A and Citi at a buck or two and their prices multiplied many times in just a few months.
    OBAMA
    Stop talking crap about him and give him a chance!
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