Kucinich: Treasury Picked National City to be a Loser

Washington, Nov 21 -

Congressman Dennis Kucinich (D-OH) made the following speech at a rally to save National City Bank at Public Square today:

“Treasury is picking winning and losers. They picked National City Bank, with its 163-year history in Cleveland, to be a loser. When asked in the Domestic Policy Subcommittee, which I chair, simple questions about stocks, short selling, and attempts made to drive National City out, they couldn’t answer. As Chairman, I will tell you that Treasury is not forthcoming; we are not going to let this go. We will continue to hold hearings. But that is not all, there are federal agencies that have to give approval for the takeover. As a Representative of Cleveland, I am preparing filings with those agencies. I will file objections with the Federal Reserve Bank, the comptroller of the currency and the Securities and Exchange Commission.

“From a business perspective, the acquisition of National City Bank by PNC causes greater concentration in the market. We will challenge this. We will continue to persist. We are a city of long odds, but a lot of guts. We are used to fighting, and we are used to winning. We are going to do everything we can to save jobs, to save National City Bank, and get to the truth.”

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