BankUnited Collapses
| Thu May. 21, 2009 1:47 PM PDT
The Wall Street Journal is reporting that BankUnited in Florida has finally been taken into receivership. No surprise there, but the price tag might be: apparently the FDIC estimates the takeover will ultimately cost taxpayers a cool $4.9 billion — and that's for a bank with less than $15 billion in assets. I don't think even IndyMac was quite that bad.
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