Damn The Receivership, Full Speed Ahead!

Author:
Publish date:
Updated on

We cannot decide if we think it is good news or bad news that BankUnited seems to be proceeding as if nothing at all is fucked, even though it was "closed and sold" not 48 hours ago. Aren't dramatic and painful changes supposed to follow hard-upon after such passings?

Florida-based BankUnited, which was closed by the U.S. government and sold to investors, was conducting business as usual on Friday and there was no sign of panic among customers, its new chief executive said.
Banking industry veteran John Kanas, who also took over as BankUnited Financial Corp chairman, told Reuters in an interview that BankUnited plans no immediate layoffs among its work force of 1,100 and expects to expand branches in its Miami base, while closing branches outside the city.

What is receivership coming to?
BankUnited sees Miami expansion, no layoffs [Bloomberg]

Related