Private Deals for Regional Banks Would Be a Mistake By Jim Cramer About this article: If the FDIC is poised to split banks to lure buyers, which is the headline from last week's papers, the buyers worth luring are not only the NewAlliances and the First Niagaras but also Chinese banks and HSCB and Barclays , both of which reported great quarters yesterday. We keep focusing on these private-equity entrees that need to be intrigued to get in. I say to heck with them. That's nonsense. We need deep-pocketed existing banks that want to be bigger in the United States, not more handouts to private-equity firms that then bring them public in our faces and make a ton of money off us. We need ones that know how to run banks and know how to compete against the new colossuses like Bank of America , JPMorgan and Wells Fargo . Why not give private-equity firms the edge?... Or, call us at 1-866-321-TSCM (8726) Monday-Friday, 8 a.m.-6 p.m. ET. Outside the U.S. and in Canada, call 1-212-321-5200.

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