14 May 2009

BankUnited It Looks Like Bank Failure Friday on Thursday

BankUnited is in trouble. Regulators have called "critically undercapitalized", and so they are looking for a buyer.

Only one problem, it appears that the bidders are demanding that BankU be placed in receivership, i.e. taken over by the government and the common shareholders wiped out, before they buy into it.

This won't be pretty.

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