Greg Weston

Chewing on the FDIC List of 'Problem' Banks

By the way Edward: Good detective work in this article!

Chewing on the FDIC List of 'Problem' Banks

BKUNA, DSL, and FED are all banks that have recently been forced to sign agreements with the OTS due to their massive option-ARM portfolios, mostly in CA and FL. I have written multiple articles on these "option-ARM" triplets.

It really says something that the list is this long and doesn't include WaMu, which is so clearly on the brink and with credit default swaps indicating a huge chance of a near-term insolvency.