Another bank goes bust, and another bank benefits and another inside leak!
Friday after the close, regulators shut down Ohio's AmTrust bank. The failure will cause the FDIC to dig in its pockets for another $2 billion, and the buyer of AmTrust, New York Community Bank gets a "loss share agreement" with the FDIC on another $6 billion in assets.
Which just means the NYB gets billions funneled its way courtesy of the taxpayer largess!
And Wall Street benefits, as someone decided to buy the p*ss out of NYB common before the close, and take down close to 9,000 December call options!
All in the last half hour of trading!
Its just another Wall Street leak courtesy of the insiders at the FDIC, and paid for by the back of the taxpayer!