Regional Banks Spiral Towards Zero

On Wednesday, BankUnited Financial Corporation Announced Public Offering of Stock.


BankUnited Financial Corporation (BKUNA) today announced the launch of a public offering of its Class A common stock, with gross proceeds of $400 million. The offering is expected to be pursuant to customary underwriting terms for a firm commitment offering of this type.

BankUnited expects to use the net proceeds from this offering for general corporate purposes, including contributing capital to its bank subsidiary.
This offering was not greeted with open arms to say the least. Bank United was crushed 33% ahead of the news (who knew?) and another 19% the following day. Its stock now sits at $1.90.

http://globaleconomicanalysis.blogspot.com/2008/06/regional-banks-spiral-towards-zero.html

This week I started moving some money out of WaMu,
a very shaky mutual bank.

I hope WaMu lasts somewhat longer, though, so I'll
have time to figure it all out about my finances.

Sue