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BankUnited, Inc. Message Board

  • jane.doe993 jane.doe993 Jan 15, 2012 10:09 PM Flag

    Where is the FDIC?

    Well, where is the FDIC regarding this deal? Two years ago Kanas and his group of investors acquired BKUNITED for pennies on the dollar and with a LOSS SHARE AGREEMENT of billions of dollars on bad loans that the FDIC-TAX PAYERS-US agreed to take ownership for it. So 2 years later on Kanas and his buddies from the Carlyle Group, Blackstone,WL Ross and Centerbridge have decided to sell their sweet deal because it seems that after buying the Herald bank in NY the FDIC started asking for financials and none of these investors want to disclose their financials so they decided "let's sale this little great deal" and move on.
    How is possible that the FDIC allows after taking ownership on all the bad loans from the OLD BKUNITED to let these people sell the bank 2 years later on? This is a rip off for the shareholders and for the bank employees and the state of FL.
    So pretty much you can buy a failed bank free and clear of bad debt on its books and sell it 2 years later on after hiring some of the best talent to bring deposits and good loans and almost 0 liabilities. I mean Kanas and these investors reputation is worthless obviously based on what they're doing however where is the reputation and protection of the FDIC. They, FDIC, look like fools. Their job is to protect taxpayers money not give it away like in this deal if it goes through. If I were the FDIC I would let them to sell the bank, not problem, however but whoever the buyer is must take all the bad loans from OLD BKUNITED on their books if not bad luck act as a good banker and CEO and grow up and make BKUNITED the best bank possible then maybe in 10 years or after all loans have been cleared up then sell the bank but at least 10 years.
    Kanas and his group didn't do any favor buying BKUNITED they got a great deal now they should commit to it and don't jeopardize the shareholders and the bank employees.
    I can not believe that the FDIC could be so naive when they sold this bank.
    Regulators and Washington should look into this deal.

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