Entries tagged "Downey Financial Corp."
National City Corp. and Downey Financial Corp. are two financial institutions that were listed last week on "Who is next?," Richard X. Bove's infamous report of banks in peril. Some banks on Bove's list claim the Ladenburg Thalmann & Co. analyst's assertions are more fiction than fact, but no one can deny that NatCity and Downey Financial are facing difficult times. NatCity announced a larger-than-expected second-quarter $1.36 billion loss Thursday. Meanwhile Downey tapped a new CEO, who is tasked with exploring strategic alternatives after a loss of $218.9 million....