Indymac sells for 13.9 billion to a partnership of titans that include George Soros, Michael Dell, and the Flowers group that is a conglomerate of hedge funds. So this is a continuation and result of the mortgage meltdown. Seems like a smart play to me. If the mortgage market recovers they should see positive returns. If the business fails they should qualify for some of the bailout funds. A win - win for them
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Jackson Hole Real Estate Broker RARE Properties Real Estate - Jackson Hole, WY
Jackson Hole Real Estate
I believe it will be a positive for shareholders - better than zeroing out.
Jan 03, 2009 01:24 PM
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