[quote=OC Burns]”IndyMac’s failure is the first bank failure in California since 2003 and is expected to cost the FDIC between $4 billion and $8 billion, based on the regulator’s preliminary estimates.”
You know…somewhere between 4 BILLION and 8 BILLION.
Quite a margin of error, eh?
With accountants like these, who needs thieves?[/quote]
Presumably because a ton of their real assets are in “hard-to-value” hard assets like REO properties. Until the regulators can actually do some research on them, do you really think that what IndyMac has them “on the books” for is the real value that they’ll bring on the market?
