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bank failures: INDY MAC -- OFFICIALLY DOWN!! GOOD or BAD??
- 07/11/08 11:33 AM
JUST GOT THIS EMAIL TODAY FROM A FRIEND =(!!
IndyMac Bank, a prolific mortgage specialist that helped fuel the housing boom, was seized Friday by federal regulators in one of the largest bankfailures in U.S. history. The thrift was one of the largest savings and loans in the country, with about $32 billion in assets. It now joins an infamous list of collapsed banks, topped by Continental Illinois National Bank and Trust Co., which failed in 1984 with $40 billion of assets. The bank will be run by the Federal Deposit Insurance Corp., a federal regulator, and will reopen Monday.For more … (8 comments)
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