RantMedia/RantRadio/RantTV Community > RantPrint > News Items > IndyMac Bank Closes: Second largest financial institution to close in US history
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Author Topic: IndyMac Bank Closes: Second largest financial institution to close in US history  (Read 458 times)
Digital Argus
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« on: July 11, 2008, 11:12:26 PM »
http://www.knbc.com/money/16857850/detail.html


Uh... guys? What do you make of this.
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exeq
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« Reply #1 on: July 15, 2008, 10:04:55 AM »
Would of rather seen it merged with another California bank, but it looks like they did not go that route.
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destined
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« Reply #2 on: July 17, 2008, 10:30:16 PM »
Its just another failed bank taken from the comptrollers at the Federal level to FDIC.  And the bank was hugely overexposed in its base near Southern California....


Which basically means someone sold a bunch of real estate investments and got caught with their hands in the cookies jar.
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