Flagstar Bancorp Inc (FBC)

[Ecomike]

I just took the time to read the last SEC filling, which I had skipped, even though I was long (long boring bank quarterlies bore me) at first read it all sounds like great news, but then the losses look like a 400% jump versus prior quarter, and about equal to 12 months ago. so the increased losses plus the Washington mess may have been the trigger. I am down about 90% now on the first share lot from about 18 months ago, thinking about finally giving up on this bunch as this Washington bunch and market sell off might get even nastier. I already got hosed this month on a few other stocks. This punk is not feeling lucky today!

Edit: Book value June 30th 2011 is listed at $1.66/share, but the numbers I see indicate a book value of about $2.10/share, so when this bottoms, it may be a good buy after all. Just depends on how fast things get better or worse.