Reply #5: That explains a lot. [View All]

[Frodo]

Riggs has recently been on the "for sale" blocks after decades of swearing off acquisition.

These kinds of changes almost always come from problems. Either 1) poor practicies (bad loans etc.), 2) bad maangement (losing money) or 3) the head guys are ready to retire and don't see a valid replacement team ready to take over.


Rumor was that Riggs had lots of "Patriot act problems". Too much foreign money with too little knowledge of where it came from.