BankUnited, FSB, Coral Gables, Florida, is no more.
Huffington Post says it’s the biggest failure since IndyMac.
It’s Thursday. They usually wait until Friday for these announcements, so they have the weekend to take care of the details. This one may have been really messed up.
According to the press release, rather than being given over to another bank, as is the usual practice (it says something that one can write “the usual practice” about a bank failure and have it seem natural, but that’s Republican Economic Theory for you), it’s been reborn under a new, but similar, name. This is truly screwy.