Exhibit 12.1
 Computation of Ratio of Earnings to Fixed Charges (As Adjusted)
 Years Ended December 31,Three Months EndedMarch 31, 2009
    
    
    2008
    
    
    2007
    
    
    2006
    
    
    2005
    
    
    2004($ in thousands)Fixed charges (1):Total interest expense
    
    $
    131,035
    
    
    $
    699,044
    
    
    $
    864,241
    
    
    $
    621,665
    
    
    $
    199,806
    
    
    $
    87,819Interest capitalized
    
    
    
    
    
    
    
    
    
    
    357
    
    
    
    414
    
    
    
    932
    
    
    
    Interest portion of rental expense
    
    
    623
    
    
    
    1,994
    
    
    
    1,697
    
    
    
    1,327
    
    
    
    1,244
    
    
    
    1,494Total fixed charges including interest on deposits
    
    $
    131,658
    
    
    $
    701,038
    
    
    $
    866,295
    
    
    $
    623,406
    
    
    $
    201,982
    
    
    $
    89,313Earnings including interest on deposits:Net (loss) income before noncontrolling interests and income taxes
    
    $
    (157,745
    )
    
    $
    (407,913
    )
    
    $
    251,788
    
    
    $
    335,809
    
    
    $
    255,201
    
    
    $
    196,655Fixed charges
    
    
    131,658
    
    
    
    701,038
    
    
    
    866,295
    
    
    
    623,406
    
    
    
    201,982
    
    
    
    89,313Less: Interest capitalized
    
    
    
    
    
    
    
    
    
    
    (357
    )
    
    
    (414
    )
    
    
    (932
    )
    
    
    Total earnings including interest on deposits
    
    $
    (26,087
    )
    
    $
    293,125
    
    
    $
    1,117,726
    
    
    $
    958,801
    
    
    $
    456,251
    
    
    $
    285,968Ratio of earnings to fixed charges
    
    
    (0.2x
    )
    
    
    0.4x
    
    
    
    1.3x
    
    
    
    1.5x
    
    
    
    2.3x
    
    
    
    3.2xFixed charges (1):Total interest expense
    
    $
    131,035
    
    
    $
    699,044
    
    
    $
    864,241
    
    
    $
    621,665
    
    
    $
    199,806
    
    
    $
    87,819Less: interest on deposits
    
    
    38,387
    
    
    
    76,245
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Interest capitalized
    
    
    
    
    
    
    
    
    
    
    357
    
    
    
    414
    
    
    
    932
    
    
    
    Interest portion of rental expense
    
    
    623
    
    
    
    1,994
    
    
    
    1,697
    
    
    
    1,327
    
    
    
    1,244
    
    
    
    1,494Total fixed charges excluding interest on deposits
    
    $
    93,271
    
    
    $
    624,793
    
    
    $
    866,295
    
    
    $
    623,406
    
    
    $
    201,982
    
    
    $
    89,313Earnings excluding interest on deposits:Net (loss) income before noncontrolling interests and income taxes
    
    $
    (157,745
    )
    
    $
    (407,913
    )
    
    $
    251,788
    
    
    $
    335,809
    
    
    $
    255,201
    
    
    $
    196,655Fixed charges
    
    
    93,271
    
    
    
    624,793
    
    
    
    866,295
    
    
    
    623,406
    
    
    
    201,982
    
    
    
    89,313Less: Interest capitalized
    
    
    
    
    
    
    
    
    
    
    (357
    )
    
    
    (414
    )
    
    
    (932
    )
    
    
    Total earnings excluding interest on deposits
    
    $
    (64,474
    )
    
    $
    216,880
    
    
    $
    1,117,726
    
    
    $
    958,801
    
    
    $
    456,251
    
    
    $
    285,968Ratio of earnings to fixed charges
    
    
    (0.7x
    )
    
    
    0.3x
    
    
    
    1.3x
    
    
    
    1.5x
    
    
    
    2.3x
    
    
    
    3.2x
 
 (1)
    
    Excludes interest related to the application of FIN 48.