Today's Outrage: Kucinich Could Kill Nat City
I've got a new name for Rep. Dennis Kucinich (D., Ohio): Dennis the Menace.
This two-time failed presidential candidate is fighting Pittsburgh-based
PNC Bank's
(PNC) - Get PNC Financial Services Group, Inc. Report
of Cleveland-based
National City
TheStreet Recommends
(NCC)
because he
fears the merger
will result in job losses in his district.
What does he think will happen if National City doesn't get bought? Kucinich's home-town bank is laden with high-risk mortgage loans and posted losses for five quarters in a row before the takeover was announced.
Oh, by the way, National City had already cut thousands of jobs and planned to cut thousands more before PNC stepped in. National City got itself in this mess, and its board signed off on the takeover.
Halting the process now may just end up killing National City.
So give it a rest, Dennis, and stop being such a menace.
