Corus

Tyler Durden's picture

Frontrunning: March 6





  • Kuroda to Hit ‘Wall of Reality’ at BOJ, Ex-Board Member Says (BBG)
  • Venezuelans mourn Chavez as focus turns to election (Reuters)
  • South Korea says to strike back at North if attacked (Reuters)
  • Milk Powder Surges Most in 2 1/2 Years on New Zealand Drought (BBG)
  • As Confetti Settles, Strategists Wonder: Will Dow's Rally Last?  (WSJ)
  • Pollution, Risk Are Downside of China's 'Blind Expansion' (BBG)
  • Obama Calls Republicans in Latest Round of Spending Talks (BBG)
  • Ryan Budget Plan Draws GOP Flak (WSJ)
  • Samsung buys stake in Apple-supplier Sharp (FT)
  • China Joining U.S. Shale Renaissance With $40 Billion (BBG)
  • Say Goodbye to the 4% Rule  (WSJ)
  • Traders Flee Asia Hedge Funds as Job Haven Turns Dead End (BBG)
  • Power rustlers turn the screw in Bulgaria, EU's poorest country (Reuters)
 
Tyler Durden's picture

Frontrunning: March 5





  • As ZH has been saying for months... Draghi Will Need to Push the Euro Down Some More (WSJ) ... but careful with "redenomination risk"
  • Senate Report Said to Fault JPMorgan (NYT)
  • EU Opens Way for Easier Budgets After Backlash (BBG)
  • China Moves to Temper Growth - Property Bubble Is a Key Concern (WSJ)
  • China bets on consumer-led growth to cure social ills (Reuters)
  • Italian president mulls new technocrat government (Reuters)
  • Grillo says MPS won't back technocrats (ANSA)
  • The Russians will be angry: Euro Chiefs Won’t Rule Out Cyprus Depositor Losses (BBG)
  • China Bankers Earn Less Than New York Peers as Pay Dives (BBG)
  • Investors click out of Apple into Google (FT)
  • Community colleges' cash crunch threatens Obama's retraining plan (Reuters)
  • Alwaleed challenges Forbes over his billions - Calculation of $20bn net worth is flawed, says Saudi prince (FT)
  • Guy Hands Dips Into Own Pockets to Fund Bonuses at Terra Firma (BBG)
  • North Korea to scrap armistice if South and U.S. continue drills (Reuters)
 
bmoreland's picture

Corus Bank: First To Fail Without Delinquencies?





As you have all read by now, Corus Bancshares went belly up on Friday adding yet another failed institution to the growing hall of shame. What makes Corus unique, however, is that they may have been the first failure with little to no delinquencies in their major loan portfolios.

 
Tyler Durden's picture

Corus Bank Is Shut Down, Cost To DIF: $1.7 Billion





The last domino of the big three has fallen: Corus Bank has been seized by the OCC. The bank, with $7 billion in assets and deposits, will transfer $3 billion of its assets to MB Financial Bank and all of its deposits. How nice of the FDIC to stick taxpayers with $4 billion in "assets" and no deposits against them. "The FDIC will retain the remaining assets for later disposition. The FDIC plans to sell substantially all of the remaining assets of Corus Bank in the next 30 days in a private placement transaction." The cost to the FDIC, pulled straight out of the rose-colored kaleidoscope, will be $1.7 billion.

 
Syndicate content
Do NOT follow this link or you will be banned from the site!