2008-08-27 — reuters.com
BankUnited Financial Corp was downgraded to "sell" by Stifel Nicolaus analyst who said the viability of the bank was "increasingly fraying" due to its inability to raise capital and a potential regulatory capital downgrade. On Monday, the Florida-based bank said its regulator, The Office of Thrift Supervision, may lower its capital rating to "adequately capitalized" if it fails to raise atleast $400 million of new capital.
This has only been inevitable for oh, what, two years? For those paying attention, of course.
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Nickles&Dimes at 22:42 2008-08-28 said:
Poor BankUnited, done in by their own mismanagement. Can't say that they were not warned; even the Account Executives at the regional meetings said far in advance that the reliance on Option Arms was a recipe for trouble. Management saw that the income accounting methods made for a big return. The Account Execs were making big bucks but still tried to expand the product line. All of the people were good people, just saw $$$ like everyone else in the business. :cry: Permalinkadd a comment | go to forum thread
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