One cannot deny the impact of the following headline, "IndyMac Bank seized by federal regulators."  After a busy two weeks, I finally got the chance to sit down and watch some TV.  As I surfed the channels, one headline kept repeating is that of INDYMAC Bank being seized.  CNN stated, "This could be the costliest bank failure in the history of the US"  Should we be concerned? Are you concerned?

Well, here are some links to the story:

http://www.latimes.com/business/la-fi-indymac1-2008jul01,0,2858219.story

http://www.latimes.com/business/la-fi-indymac12-2008jul12,0,6071779.story

http://money.cnn.com/2008/07/12/news/companies/indymac_fdic/index.htm?cnn=yes

Even the regulators are concerned.  CNN reported that on Friday there was a "run" on INDYMAC in Pasadena, CA, and their stock closed at 28 cents.  The bank will reopen on Monday as IndyMac Federal Bank.  As the Feds sift through the mess, how will this affect us.  CNN also reported that there are 90 other banks on the federal watch list. Where do we go from here?  How will this change our industry?