Regulators Seize Mortgage Lender

[Manuel]

Federal regulators seized IndyMac Bancorp on Friday evening, marking one of the largest bank failures in American history.

The bank, once part of the Countrywide Financial Corporation, is the first major bank to shut its doors since the mortgage crisis erupted more than a year ago.

http://www.nytimes.com/2008/07/12/b...bl&ex=1216008000&en=48af597fcdabd556&ei=5087

 

[Paulie]

Lol. Members of congress shouldn't be allowed to make a comment about an already failing bank? What a bunch of bullshit. That bank was already insolvent by the time Schumer said anything. But leave it to the MSM to leave the impression in people's minds that somehow Schumer may be to blame.

The banks are all lined up like ducks in a row right now. Nothing is going to stop their collapses, besides of course government intervention and bail-outs.

They should have thought about that before they decided to practice fractional reserve banking, and tried to play the market for a fool.

Wachovia and WaMu are next, I think.