Another Failed Bank – BankUnited in Florida

The number of failed banks in the United States in 2009 rose once again when it was announced that BankUnited has been taken over by federal regulators. BankUnited represents the 34th bank to fail in 2009 that was protected by the FDIC.
In total loses by the FDIC, this was the second largest bank failure of the year. Only IndyMac Bank of California has totaled a larger loss. In all, reported indicate that BankUnited will cost the FDIC nearly $5 billion. IndyMac Bank’s failure had a price tag of more than $10 billion.
This failure is unique in that it was sold …read more