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  #1  
Old 05-22-2009, 07:44 AM
George Ellerman's Avatar
George Ellerman George Ellerman is offline
 
Join Date: Feb 2005
Location: Cincinnati
State: Ohio
Professional Status: Licensed Appraiser
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Default BankUnited Seized By Govt.

Florida's larget bank,BankUnited FSB, was seized by the government yesterday and will cost FDIC almost 5 billion. Optional adjustable rate mortgages to blame.

http://news.yahoo.com/s/nm/20090522/bs_nm/us_bankunited
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Old 05-22-2009, 08:50 AM
Workbox's Avatar
Workbox Workbox is offline
 
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Location: The Rockies
State: Colorado
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Not suprised one bit, and more will continue to fall. Brace yourself folks.
  #3  
Old 05-22-2009, 09:31 AM
Vetteman Vetteman is offline
 
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State: Florida
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Never did an appraisal for them in 13 years. Tried, but I guess they didn't want my services. Oh well, I am sure there will be many more to come. I've moved my money to a credit union. When the FDIC runs out of money, depositors will be waiting a long time to get "reimbursed" by the taxpayers.
  #4  
Old 05-22-2009, 09:46 AM
So Cal RealEstate So Cal RealEstate is offline
 
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Location: So Cal Ca
State: California
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Thumbs down Too big to fail

Quote:
Originally Posted by Vetteman View Post
Never did an appraisal for them in 13 years. Tried, but I guess they didn't want my services. Oh well, I am sure there will be many more to come. I've moved my money to a credit union. When the FDIC runs out of money, depositors will be waiting a long time to get "reimbursed" by the taxpayers.
The FDIC is just too big to fail! Another Gvmt bailout
  #5  
Old 05-22-2009, 09:53 AM
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Greg Bell Greg Bell is offline
 
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State: Louisiana
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How can this happen.All the talking heads tell me the recession is behind us , whew , I thought we might be in big trouble..Quick , buy some beans and ammo..P.S And Gold..
  #6  
Old 05-22-2009, 09:58 AM
George Ellerman's Avatar
George Ellerman George Ellerman is offline
 
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State: Ohio
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Default

You better buy gold you fools!!!

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