Bank United Fails

The banking sector isn’t in the clear just yet. Bank United (BKUNA) just became the 34th bank failure of the year, but it’s also the largest one yet. The Florida-based thrift had assets of $12.80 billion and deposits of $8.6 billion as of May 2. While I think that most bank failures are behind us, this clearly shows that there may be more large-scale failures. Plus, the problems are GM and Chrysler will have ripple effects that could bring down even more banks.

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