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Normally, the FDIC waits until Friday to close a troubled bank. But apparently, they couldn’t wait any longer on BankUnited, announcing yesterday that the bank was now being run by the FDIC in what has been described as this year’s biggest failure. Having spent several years in Florida, I was familiar with the bank and [...]
It’s no secret that housing prices in places like Riverside County, Ca. have fallen sharply, in part due to a wave of foreclosures that at least according to this article has one out of every eight homeowners facing foreclosure. Indeed, the county is working hard to avoid more foreclosures. Still, the 8K that Circor (CIR) [...]
I’ve been down in Bradenton, Florida the past few days where I started my career as a journalist. After spending the weekend walking door to door to get out the vote for Barack Obama, I’m now turning my attention to reporting and plan to attend the daily 11 a.m. foreclosure sale run by the Manatee [...]
It’s no secret that San Diego is awash in foreclosures. Indeed, Realty Trac lists 18,885 bank-owned homes in the county and another 12,041 in pre-foreclosure. Given that kind of distressed supply, prices have fallen dramatically — about 30 percent, according to this report. So perhaps it’s not all that surprising that when Sunpower (SPWRA) announced [...]
Yesterday was a big deadline for Qs and lots of big companies, including several banks, jostled to see who could file closest to the deadline. Among those on my radar are Wachovia (15:49), Washington Mutual (16:52), and Och-Ziff (16:54). But it was the 10Q that Countrywide filed at 5:10 yesterday that really caught my eye. [...]
