This may have been a strategic move on Genworth Financial's part but I think I will note that they may be strategic idiots for missing a very big opportunity to become a holding company as a savings and loans institution. This would have given them access to the Federal Reserve free flowing, cheap capital!! What else can we add to the list of things to take away from this strategic company. How about the ability to be eligible for the Treasury's purchase program and now they can't complete the acquisition of Interbank. So I won't pile anything else on this company, because all this news just broke and I take a calculated gamble here and say that this stock will get punished for its...how should I say strategically dumb move. SHORT GNW
$2.31 (04/14/09)
