Caught Up in The Financial Crisis
In mid-August 2009 the bank was named as one of the biggest and worst off of more than 150 U.S. lenders which own nonperforming loans that equal 5 percent or more of their holdings. 5 percent is a threshold that former regulators have stated can wipe out a bank’s equity and threaten its survival. Flagstar's nonperforming portfolio was more than 10 percent.
Read more about this topic: Flagstar Bank
Famous quotes containing the words caught up, caught, financial and/or crisis:
““A girl I had, but she followed another,
Money I had, and it went in the night,
Strong drink I had, and it brought me to sorrow,
But a good strong cause and blows are delight.”
All there caught up the tune:
“On, on, my darling man.””
—William Butler Yeats (1865–1939)
“Much verse fails of being poetry because it was not written exactly at the right crisis, though it may have been inconceivably near to it. It is only by a miracle that poetry is written at all. It is not recoverable thought, but a hue caught from a vaster receding thought.”
—Henry David Thoreau (1817–1862)
“America is a nation with no truly national city, no Paris, no Rome, no London, no city which is at once the social center, the political capital, and the financial hub.”
—C. Wright Mills (1916–1962)
“... what’s been building since the 1980’s is a new kind of social Darwinism that blames poverty and crime and the crisis of our youth on a breakdown of the family. That’s what will last after this flurry on family values.”
—Stephanie Coontz (b. 1944)