Friday, May 22, 2009

Another Bank Bites the Dust

This one is significant because the government didn't wait for the weekend to carry it out. This can only be explained as a sign of desperation. From My Way News:

The federal seizure of struggling Florida thrift BankUnited FSB is expected to cost the Federal Deposit Insurance Corp. $4.9 billion, representing the second-largest hit to the FDIC's insurance fund since the financial crisis began felling banks last year.