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"When we looked at Colonial's portfolio versus ours, we saw a lot of borrowers we turned away" -...

"When we looked at Colonial's portfolio versus ours, we saw a lot of borrowers we turned away" - BB&T (BBT) CFO Daryl Bible on his firm's takeover of Colonial Bank (CNB) loans and collateral, which are being marked down by 37%. Construction loans are being marked down by 67%. (See chart; via)
Comments (2)
  • Mark54
    , contributor
    Comments (164) | Send Message
     
    All of a sudden those 21bn in loans is now 14bn. That is why no bank can mark to market its loans.
    19 Aug 2009, 09:47 PM Reply Like
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    construction loans marked down 67%...wow...extrapolate that out and we are in big trouble
    20 Aug 2009, 01:03 AM Reply Like
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