Wednesday, June 18, 2008

Big Shitpile

May be claiming another victim.

Thornburg Mortgage, the jumbo mortgage lender that lost $3.31 billion in the first quarter, said on Wednesday it has received subpoenas from U.S. securities regulators and its survival remains in doubt.

The disclosures reflect further problems for the Santa Fe, New Mexico-based lender, which was on the brink of bankruptcy in March before raising $1.35 billion of capital.