INDY MAC -- OFFICIALLY DOWN!! GOOD or BAD??

By
Services for Real Estate Pros

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 bank
failures 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 information, see:


http://wsj.com?mod=djemalertNEWS

 

WHAT ARE YOUR THOUGHTS???

Comments (8)

Kim Sellers
Lake Arrowhead, CA Coldwell Banker - Lake Arrowhead, CA
Lake Arrowhead Realtor - BRE#01412099 - Lake Arrow

How does this happen?  Bad loans out there?  Poor management.  I just don't understand.

Jul 11, 2008 11:46 AM
Jese Gonzalez
The Real Estate Power Houses - El Paso, TX
The Real Estate Matchmaker

I would like to personally welcome you to the ActiveRain community!  This community has a wonderful atmosphere and you will find lots of helpful friendly people and useful information.  I just recently joine myself and I'm already loving this place! I often find something new and interesting when I read the new blogs.   

Active Rain is an excellent networking forum with a variety of interesting characters.  Expect to learn a lot and be entertained if you have an open mind.  The opportunities to learn, earn and network are absolutely incredible here on Activerain.   

 Welcome to the RAIN I look forward to reading your blogs

Jul 11, 2008 11:46 AM
Bo Hussung
Bell Title /Triserv LLC - Nashvle, TN

Epifanio, to start, wlecome aboard! The insolvency of any major bank /financial instution is not ever a good thing. Not only does it rattle the confidence of consumers, but  it send ripples within the industry it serves, by causing overreaction among investors and when that happens, it  is ometimes hard to stop the herd.  We are muddling in a very fragile economic time and more of this simply causes more fracturing within the foundation.

Nice 1st post!

Thanks

Bo

Jul 11, 2008 12:01 PM
Holly Lynch
Keller Williams Greenville Central - Travelers Rest, SC

Welcome to the rain..don't get too addicted. Be careful cutting and pasting info from a website or publication as AR sometimes won't let you post it..it has to be your own content.

Jul 12, 2008 03:58 AM
Susan McQuaide
Keller Williams - Simpsonville, SC

Welcome to Active Rain! You will find this site both helpful and fun!

Jul 12, 2008 04:14 AM
Greg Steffens
Mountain Country Realty - Lake Arrowhead, CA

Welcome to "the Rain" and congrats on your first post.  Indymac is a biggie...it'll be interesting to follow what happens with them.  Looks like you're off to a great start with your blog...keep it up!

Jul 12, 2008 10:33 AM
Scott Magaw
The Bill Kennedy Team - Keller Williams Realty - Spartanburg, SC

I just wanted to welcome you to Active Rain! This is a great site for learning, as well as sharing. I learn just as much from the comments on blogs as I do from the blogs themselves.  Check out some blogs, join some groups, and write whatever's on your mind!  I look forward to reading some of your future posts.

Jul 12, 2008 04:27 PM
Rick Sergison
EXP Realty of Canada Inc., Brokerage - Pickering, ON
Durham Region Real Estate Blog

I just stopped by to welcome you to Active Rain. I hope that you find it a great benefit to your business and that you see the value that I have also found here. I am from Charlottesville Virginia and using Active Rain has really increased my business!

My main blog on Active Rain is here: Charlottesville Real Estate Blog, not the link at the bottom of this post. 

I hope you will look into the many groups as there are some great group both local and broad based,.... 

enjoy!

Jul 13, 2008 09:08 AM