EXHIBIT 12.1

Earning to Fixed Charges and Preferred Dividends

	Years Ended December 31,
	2010			2009			2008			2007		2006
	(Dollars in thousands)
EXCLUDING INTEREST ON DEPOSITS:
Pre-tax income	$	(224,282	)	$	(811,112	)	$	(411,432	)	$	138,213	$	108,176
Preferred stock dividend		(11,598	)		(17,369	)		(1,208	)		0		0
Other shareholder allocations		(520,263	)		0			0			0		0
Pre-tax income available to common shareholders		(756,143	)		(828,481	)		(412,640	)		138,213		108,176
Fixed charges		81,180			109,128			129,282			140,816		105,838
Earnings	$	(674,963	)	$	(719,353	)	$	(283,358	)	$	279,029	$	214,014
Interest expense-short term borrowings	$	6,517		$	16,476		$	20,820		$	29,956	$	35,979
Interest expense-long term borrowings		59,882			69,633			100,353			104,048		65,691
Preferred stock dividend		11,598			17,369			1,208			0		0
Portion of long-term leases representative of the interest factor **		3,183			5,650			6,901			6,812		4,168
Fixed charges	$	81,180		$	109,128		$	129,282		$	140,816	$	105,838
Earnings to fixed charges, excluding interest on deposits		*			*			*			1.98		2.02
INCLUDING INTEREST ON DEPOSITS:
Pre-tax income	$	(224,282	)	$	(811,112	)	$	(411,432	)	$	138,213	$	108,176
Preferred stock dividend		(11,598	)		(17,369	)		(1,208	)		0		0
Benefit to common shareholders		(520,263	)		0			0			0		0
Pre-tax income available to common shareholders		(756,143	)		(828,481	)		(412,640	)		138,213		108,176
Fixed charges		175,887			278,389			363,619			418,430		291,111
Earnings	$	(580,256	)	$	(550,092	)	$	(49,021	)	$	556,643	$	399,287
Interest expense-short term borrowings	$	101,224		$	185,737		$	255,157		$	307,570	$	221,252
Interest expense-long term borrowings		59,882			69,633			100,353			104,048		65,691
Preferred stock dividend		11,598			17,369			1,208			0		0
Portion of long-term leases representative of the interest factor **		3,183			5,650			6,901			6,812		4,168
Fixed charges	$	175,887		$	278,389		$	363,619		$	418,430	$	291,111
Earnings to fixed charges, including interest on deposits		*			*			*			1.33		1.37

* Earnings to fixed charges and preferred dividends were a deficiency of $756.1 million, $828.5 million and $412.6 million for the years ended December 31, 2010, 2009 and 2008, respectively.

** The interest factor on long-term operating leases represented a reasonable approximation of the appropriate portion of operating lease expense considered to be representative of interest.