IndyMac fails

[equalizer]

here is older thread where we discussed banks. too bad the older list for weiss is gone

http://piggington.com/is_your_bank_safe

thanks to internet archive we have from July 07

http://web.archive.org/web/20070803184332/http://weissratings.com/HL_Bank.asp

netbank #1 weakest, it was gone in 6 months.

[bsrsharma]

no matter what corruption we see

The following is a must read. Likely, the pattern was repeated at many other banks.

My Experience at Indy Mac: Fraud, Corruption, Criminality

I’ve shared some tidbits with you in the last month about my experience at IndyMac as their chief commercial appraiser from October 2001 to the end of March 2002. Now that IndyMac has been seized by FDIC and their legal staff presumably unemployed, I will tell the rest of the story. Some people tell me that it must have been hell for me, but I look back on it as an adventure, like sailing into the “Perfect Storm”, a perfect storm of corruption and incompetence, and living to tell about it….

http://bigpicture.typepad.com/comments/2008/07/appraisers-wows.html

[bsrsharma]

no matter what corruption we see

The following is a must read. Likely, the pattern was repeated at many other banks.

My Experience at Indy Mac: Fraud, Corruption, Criminality

I’ve shared some tidbits with you in the last month about my experience at IndyMac as their chief commercial appraiser from October 2001 to the end of March 2002. Now that IndyMac has been seized by FDIC and their legal staff presumably unemployed, I will tell the rest of the story. Some people tell me that it must have been hell for me, but I look back on it as an adventure, like sailing into the “Perfect Storm”, a perfect storm of corruption and incompetence, and living to tell about it….

http://bigpicture.typepad.com/comments/2008/07/appraisers-wows.html

[bsrsharma]

no matter what corruption we see

The following is a must read. Likely, the pattern was repeated at many other banks.

My Experience at Indy Mac: Fraud, Corruption, Criminality

I’ve shared some tidbits with you in the last month about my experience at IndyMac as their chief commercial appraiser from October 2001 to the end of March 2002. Now that IndyMac has been seized by FDIC and their legal staff presumably unemployed, I will tell the rest of the story. Some people tell me that it must have been hell for me, but I look back on it as an adventure, like sailing into the “Perfect Storm”, a perfect storm of corruption and incompetence, and living to tell about it….

http://bigpicture.typepad.com/comments/2008/07/appraisers-wows.html

[bsrsharma]

no matter what corruption we see

The following is a must read. Likely, the pattern was repeated at many other banks.

My Experience at Indy Mac: Fraud, Corruption, Criminality

I’ve shared some tidbits with you in the last month about my experience at IndyMac as their chief commercial appraiser from October 2001 to the end of March 2002. Now that IndyMac has been seized by FDIC and their legal staff presumably unemployed, I will tell the rest of the story. Some people tell me that it must have been hell for me, but I look back on it as an adventure, like sailing into the “Perfect Storm”, a perfect storm of corruption and incompetence, and living to tell about it….

http://bigpicture.typepad.com/comments/2008/07/appraisers-wows.html

[bsrsharma]

no matter what corruption we see

The following is a must read. Likely, the pattern was repeated at many other banks.

My Experience at Indy Mac: Fraud, Corruption, Criminality

I’ve shared some tidbits with you in the last month about my experience at IndyMac as their chief commercial appraiser from October 2001 to the end of March 2002. Now that IndyMac has been seized by FDIC and their legal staff presumably unemployed, I will tell the rest of the story. Some people tell me that it must have been hell for me, but I look back on it as an adventure, like sailing into the “Perfect Storm”, a perfect storm of corruption and incompetence, and living to tell about it….

http://bigpicture.typepad.com/comments/2008/07/appraisers-wows.html

[peterb]

Great read!!! If it isnt bad enough that the residential market was funded by Liar Loans, the high-end commercial deals had their fair share of complete fraud going on as well!!
And now banks are going under with high levels of uninsured dollars in them!?

Credit contraction, unemployment rising, home prices declining and now banks failing with lots of accounts without insurance!? Add commercial real estate fraud. Wealth is bleeding out onto the streets!!! I dont see how this cant cause big delation.

[peterb]

Great read!!! If it isnt bad enough that the residential market was funded by Liar Loans, the high-end commercial deals had their fair share of complete fraud going on as well!!
And now banks are going under with high levels of uninsured dollars in them!?

Credit contraction, unemployment rising, home prices declining and now banks failing with lots of accounts without insurance!? Add commercial real estate fraud. Wealth is bleeding out onto the streets!!! I dont see how this cant cause big delation.

[peterb]

Great read!!! If it isnt bad enough that the residential market was funded by Liar Loans, the high-end commercial deals had their fair share of complete fraud going on as well!!
And now banks are going under with high levels of uninsured dollars in them!?

Credit contraction, unemployment rising, home prices declining and now banks failing with lots of accounts without insurance!? Add commercial real estate fraud. Wealth is bleeding out onto the streets!!! I dont see how this cant cause big delation.

[peterb]

Great read!!! If it isnt bad enough that the residential market was funded by Liar Loans, the high-end commercial deals had their fair share of complete fraud going on as well!!
And now banks are going under with high levels of uninsured dollars in them!?

Credit contraction, unemployment rising, home prices declining and now banks failing with lots of accounts without insurance!? Add commercial real estate fraud. Wealth is bleeding out onto the streets!!! I dont see how this cant cause big delation.

[peterb]

Great read!!! If it isnt bad enough that the residential market was funded by Liar Loans, the high-end commercial deals had their fair share of complete fraud going on as well!!
And now banks are going under with high levels of uninsured dollars in them!?

Credit contraction, unemployment rising, home prices declining and now banks failing with lots of accounts without insurance!? Add commercial real estate fraud. Wealth is bleeding out onto the streets!!! I dont see how this cant cause big delation.

[Author]

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