Bank Profits – One West $1.6B

One West Bank recorded a profit last year of $1.6 billion [see LA Times Business 02/20/2010].  The FDIC stands to lose $11 billion.  This one year of profits was more than OWB paid to buy predecessor Indy Mac from the FDIC in March of 2009.   OWB’s feeding frenzy is being fueled by rampant foreclosures and turning loan modifications into a farce.  Your personal experience by way of comment would help document.

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