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February 14, 2008
From the folks at Mortgage Implode-O-Meter - Now you get the Bank Implode-O-Meter
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6 comments:
Feb. 14 (Bloomberg) -- UBS AG posted the biggest ever loss by a bank in the fourth quarter after $13.7 billion in writedowns on securities infected by US subprime mortgages.
Want to know who's in trouble? Just look who's paying the highest interest rates, knowing the FDIC will bail their accounts out after they fail, and the US government will bail out the bank themselves.
It's sick, but it's legal.
http://www.bankrate.com/brm/rate/high_ratehome.asp?params=US,416&product=15
How about Fremont Gemeral and their FDIC C&D order? Bank United will be next.
Thanks for posting this Keith.
Countrywide has 4.75% 6 month CDs and is rated below 1 star at "U" whatever that is LMAO.
Don't forget to give the Home Builder Implode-o-Meter some love.
(and we've been running the Hedge Fund Implode-o-Meter for a while).
All our implode-o-network news pickups are available in one place here.
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