Puerto Rican day at the FDIC – in one da…

Puerto Rican day at the FDIC – in one day, the FDIC shut down banks holding 25% of the total deposits in Puerto Rico. The biggest of the three is expected to cost $3.3 billion on a bank with less than $9 billion in deposits – the book value to actual value of the bank’s assets is in the 50% range. The faster the FDIC goes, the behinder it is getting. Unemployment in PR is over 15%