The think that was most surprising about this week's $50m loss, is how suddenly it follows on the heels of the big Oct 4 ad the company put in the paper excoriating 'rumors' of the bank being in some kind of trouble. They Bragged about the bank being 'Well Capitalized', and now less than a month later, its not 'Well Capitalized' any more. What happened in that month? Did they not have a clue as to the write-down that was coming?

For a year, we've been getting poor earnings with big write-offs, with statements from mgmt along the lines of: we are doing this pro-actively, this should put our allowance in good shape to handle any write-offs going forward, the worst is behind us, etc...
And, every few quarters there is another bomb-shell.

I'm having a hard time understanding this....