Stung by almost $1.5B in mortgage writedowns, Guaranty Financial (GFG -32%) - one of the biggest...

|About: Guaranty Financial Group Inc. (GFG-OLD)|By:, SA News Editor

Stung by almost $1.5B in mortgage writedowns, Guaranty Financial (GFG -32%) - one of the biggest banks in Texas with nearly $16B in assets - is nearing collapse and has agreed to let the FDIC take over its banking subsidiary, though that's not happened yet.