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Exhibit 12.2

Computation of Ratio of Adjusted EBITDA to interest expense and preferred dividends
$ in thousands, except ratios

		For the Years Ended December 31,
		2010			2009			2008			2007			2006
Adjusted EBITDA(1):
	Net income (loss)	$	80,206		$	(769,847	)	$	(181,767	)	$	236,602		$	376,034
	Add: Interest expense(2)		346,500			481,116			666,706			629,272			429,807
	Add: Depreciation, depletion and amortization(3)		69,916			98,238			102,745			99,427			83,058
	Add: Joint venture depreciation and amortization		9,858			17,990			14,466			40,826			14,941
	Add: Income taxes		7,023			4,141			10,175			6,972			891
	Add: Provision for loan losses		331,487			1,255,357			1,029,322			185,000			14,000
	Add: Impairment of assets(4)		22,381			141,018			334,830			144,184			5,683
	Add: Stock-based compensation expense		19,355			23,593			23,542			17,601			11,435
	Less: Gain on early extinguishment of debt, net		(108,923	)		(547,349	)		(393,131	)		(225	)		—
Total Adjusted EBITDA(1)		$	777,803		$	704,257		$	1,606,888		$	1,359,659		$	935,849
Interest expense and preferred dividends:
	Interest expense(2)	$	346,500		$	481,116		$	666,706		$	629,272		$	429,807
	Preferred dividends		42,320			42,320			42,320			42,320			42,320
Total interest expense and preferred dividends		$	388,820		$	523,436		$	709,026		$	671,592		$	472,127
	Adjusted EBITDA/interest expense and preferred dividends		2.0	x		1.4	x		2.3	x		2.0	x		2.0	x

Explanatory Notes:

(1)

Adjusted EBITDA should be examined in conjunction with net income (loss) as shown in the Company's Consolidated Statements of Operations. Adjusted EBITDA should not be considered as an alternative to net income (loss) (determined in accordance with GAAP) as an indicator of the Company's performance, or to cash flows from operating activities (determined in accordance with GAAP) as a measure of the Company's liquidity, nor is Adjusted EBITDA indicative of funds available to fund the Company's cash needs or available for distribution to shareholders. Rather, Adjusted EBITDA is an additional measure for the Company to use to analyze how its business is performing. In addition, in calculating its ratio of Adjusted EBITDA to interest expense and preferred stock dividends, the Company makes adjustments for impairments of assets and provisions for loan losses because they are significant non-cash items and the Company believes that investors may find it useful to consider the Company's coverage of its interest and preferred dividend payments without the effect of these non-cash items, as an additional measure to earnings to fixed charges. It should be noted that the Company's manner of calculating Adjusted EBITDA may differ from the calculations of similarly-titled measures by other companies.

(2)

For the years ended December 31, 2010, 2009, 2008, 2007 and 2006, interest expense includes $30,515, $66,876, $47,995, $18,554 and $19,327, respectively, of interest expenses reclassified to discontinued operations.

(3)

For the years ended December 31, 2010, 2009, 2008, 2007 and 2006, depreciation, depletion and amortization includes $7,541, $36,029, $40,811, $43,560 and $43,291, respectively, of depreciation, depletion and amortization reclassified to discontinued operations.

(4)

For the years ended December 31, 2010, 2009, 2008, 2007 and 2006, impairment of assets includes $1,860, $14,430, $296, $297 and $297, respectively, of impairment of assets reclassified to discontinued operations.

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Exhibit 12.2

Computation of Ratio of Adjusted EBITDA to interest expense and preferred dividends $ in thousands, except ratios