players
Banned
Is this the beginning of the so-called "ripple effect" in the banking/mortgage industry.
Ya'll think other's that have been reported on shakey ground like CITIGROUP will tumble after this like Bear/Stern did after covering up problem's until it's too late?
Fed's seize IndyMac's asset's after Failure.
AP) IndyMac Bank's assets were seized by federal regulators on Friday after the mortgage lender succumbed to the pressures of tighter credit, tumbling home prices and rising foreclosures.
The bank is the largest regulated thrift to fail and the second largest financial institution to close in U.S. history, regulators said.
The Office of Thrift Supervision said it transferred IndyMac's operations to the Federal Deposit Insurance Corporation because it did not think the lender could meet its depositors' demands.
IndyMac customers with funds in the bank were limited to taking out money via automated teller machines over the weekend, debit card transactions or checks, regulators said
Ya'll think other's that have been reported on shakey ground like CITIGROUP will tumble after this like Bear/Stern did after covering up problem's until it's too late?
Fed's seize IndyMac's asset's after Failure.
AP) IndyMac Bank's assets were seized by federal regulators on Friday after the mortgage lender succumbed to the pressures of tighter credit, tumbling home prices and rising foreclosures.
The bank is the largest regulated thrift to fail and the second largest financial institution to close in U.S. history, regulators said.
The Office of Thrift Supervision said it transferred IndyMac's operations to the Federal Deposit Insurance Corporation because it did not think the lender could meet its depositors' demands.
IndyMac customers with funds in the bank were limited to taking out money via automated teller machines over the weekend, debit card transactions or checks, regulators said
