BankUnited Financial Corp (BKUNA)

JDSancho (98.42) Submitted: 6/21/08 10:49 PM : Start Price: $3.99 BKUNA Score: 59.96

I wish I could have jumped on this bomb a while before I did (late Feb 08 for the record). It looks like the terrible discipline in yet another S&L is warranting a concern for its liquidity. Doesn't it seem late in the game for banks to still be trying to rationalize their liquidity positions? This Minyanville article sums the whole situation up very nicely:

http://www.minyanville.com/articles/bkuna-MBI-wm-abk-FITB-IMB/index/a/17650

Like I've said elsewhere, BKUNA shouldn't feel too sorry for itself. These problems are being felt by the entire industry. I can't understand how just about every bank in the United States lacked the foresight and discipline to sidestep this catastrophy. It's too late to ponder now. Make the underperform call here, collect the points, and hope that a few of these banks collapse so we can rebound and move on to the next bursting bubble.

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