OneWest bank profit: $1.6 billion – By E. Scott Reckard – As IndyMac, it sold last year for less than that. Investors win, but the FDIC could still lose nearly $11 billion on bad loans that the Pasadena institution made before its sale. … "This is one hell of a deal for those owners, but hardly a good deal for the banking industry, which pays the FDIC’s bills," said Bert Ely, a longtime consultant to banks. … - LA Times Business
————
be afraid? – Citi Warns of Withdrawal Gate - Ira Stoll, editor – Seen on a recent Citibank statement: "Effective April 1, 2010, we reserve the right to require (7) days advance notice before permitting a withdrawal from all checking accounts. While we do not currently exercise this right and have not exercised it in the past, we are required by law to notify you of this change." – Future of Capitalism Blog
————
read this – long and fascinating – Beal Bank owner – Dallas’ richest man – paved his own road to riches – By BRENDAN CASE – The Dallas Morning News