5.21.2009

BKUNA matata - what a wonderful phrase!

Bank Failure Thursday? BFT? WTF? BankUnited, Coral Gables, Florida.

This one's been in the works for months -- the Feds have been leaning on BankUnited (BKUNA to stock jockeys) to find a buyer. And the buyers are a bunch of private equity guys, who are getting the taxpayer to take on almost all the risk:
The government will take 80 per cent of the first $4bn in losses and 95 per cent of any remaining losses, people familiar with the transaction said.

Why they did it on a Thursday instead of the usual Friday, I don't know. Maybe Sheila and Suze want to make it a four-day romantic holiday weekend in Florida.

Thanks to Negocios Loucos for the heads up.

No comments:

The disinformation and election interference is coming from inside the house

The FBI just admitted in court that Hunter Biden's laptop is real. Here are 20 minutes of Joe Biden, U.S. intelligence officials, and th...