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Old 05-21-2009, 07:40 PM
 
Location: NJ
2,111 posts, read 7,142,101 times
Reputation: 989

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Regulators seize Florida's BankUnited FSB:

Regulators seize Florida's BankUnited FSB | Comcast.net (http://www.comcast.net/articles/finance/20090521/US.Bank.Closure/ - broken link)
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Old 05-21-2009, 09:02 PM
 
Location: Great State of Texas
86,093 posts, read 70,313,539 times
Reputation: 27525
I read that. And it's not even Friday. Must have been too big to wait til tomorrow.
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Old 05-21-2009, 09:14 PM
 
975 posts, read 1,547,962 times
Reputation: 523
This is a non event and old news.

The banks already been sold. Business as usual for customers.
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Old 05-21-2009, 09:49 PM
 
Location: Conejo Valley, CA
12,476 posts, read 17,036,546 times
Reputation: 4304
Yeah this has been "in the works" for awhile.
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Old 05-21-2009, 10:38 PM
 
Location: Great State of Texas
86,093 posts, read 70,313,539 times
Reputation: 27525
FDIC is on the hook to pay some of the $10 billion though along with the new bank.
Soon the FDIC will need a bailout..I think I'd be in favor of that one.
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Old 05-22-2009, 12:29 AM
 
Location: Conejo Valley, CA
12,476 posts, read 17,036,546 times
Reputation: 4304
Quote:
Originally Posted by HappyTexan View Post
FDIC is on the hook to pay some of the $10 billion though along with the new bank.
FDIC has always been backed by the government, if they ran out of money they would borrow from the treasury.
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Old 05-22-2009, 06:59 AM
 
Location: Great State of Texas
86,093 posts, read 70,313,539 times
Reputation: 27525
Quote:
Originally Posted by user_id View Post
FDIC has always been backed by the government, if they ran out of money they would borrow from the treasury.
Very easy to say "borrow from the Treasury". We are trillions in debt.
The Fed is now the buyer of last resort of Treasuries.

You can't play this game forever; sooner or later it's all going to come to a standstill.
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Old 05-22-2009, 08:04 AM
 
Location: Castle Hills
1,129 posts, read 2,291,912 times
Reputation: 605
Quote:
Originally Posted by HappyTexan View Post
Very easy to say "borrow from the Treasury". We are trillions in debt.
The Fed is now the buyer of last resort of Treasuries.

You can't play this game forever; sooner or later it's all going to come to a standstill.
^^ 100% correct. You can't keep playing that game.
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Old 05-22-2009, 03:14 PM
 
Location: Conejo Valley, CA
12,476 posts, read 17,036,546 times
Reputation: 4304
Quote:
Originally Posted by HappyTexan View Post
Very easy to say "borrow from the Treasury". We are trillions in debt.
The Fed is now the buyer of last resort of Treasuries.

You can't play this game forever; sooner or later it's all going to come to a standstill.
No, you can play it forever. It will just be inflationary at some point.

If the FDIC stopped paying depositors all hell would break lose.
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Old 05-22-2009, 09:36 PM
 
Location: Banana Republic, LA
378 posts, read 984,730 times
Reputation: 299
Quote:
Originally Posted by user_id View Post
No, you can play it forever. It will just be inflationary at some point.
Don't you love being a participant in this grand economics experiment? Keeps me up at night.
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