From:  Daytona 
Newsgroups: uk.finance misc.invest.real-estate
Subject: Re: FT: ING Direct steps in as US bank collapses
Date: Sun, 30 Sep 2007 06:39:10 -0700
   posting-account=ps2QrAMAAAA6_jCuRt2JEIpn5Otqf_w0
Bytes: 1927

On 30 Sep, 05:14, Faubillaud  wrote:
> ING Direct steps in as US bank collapses
> By Ben White in New York
>
> Financial Times
> Published: September 28 2007 21:06 | Last updated: September 29 2007 00:09

> NetBank=B9s losses came largely due to early default on loans that it had
> sold, OTS said.

>From a market integrity perspective it is good to see that the
liability for these asset backed securities (ABS) is finding it's way
back to the originator.

> it became clear that high operating expenses [...]
> were jeopardizing the institution=B9s viability,=B2 the OTS said.

wtf!? It's an internet operation ffs ! That demonstrates a rare form
of incompetence.

Daytona