IndyMac fails

[bsrsharma]

IndyMac may be costliest bank failure ever

According to the Federal Deposit Insurance Corporation, 10,000 customers of failed IndyMac Bancorp Inc could lose as much as $500,000. And the FDIC tells CNNMoney that the failure also will cost the Deposit Insurance Fund between $4 billion and $8 billion…

http://money.cnn.com/2008/07/12/news/companies/indymac_fdic/index.htm?postversion=2008071210

I think many may be retirees losing their nest egg. It baffles me how that could happen when IndyMac has been on glide path for a while and everywhere on news.

[OC Burns]

[quote=tucker…]it looks like this is the real start of the next great depression very scary times indeed.its only going to get worse.this is question for anybody.
what can help to fix these problems raising interest rates and to stop printing so many dollars will not help in this early stage imoho ? i see very dark days for the usa. i think we still are the best country and will pull out of this, that gives me hope at least.[/quote]

The best at what, Tucker? American exceptionalism is fine (if you choose), but if we continue to believe that we are “the best country,” no matter what we do to others, no matter what our financial situation, no matter what rights are lost,, no matter what our K-12 education system accomplishes, no matter what corruption we see, and no matter what we actually turn into, then what does being “the best” really mean?

I agree that the US is a good place to live. But let’s not be starry-eyed to the point of ignoring reality. The US has fallen far from its’ highs in almost all fields. Perhaps if Americans believed that we WERE the best, and can be again, we would ditch our apathy and begin rebuilding a great Republic.

Until then, hoping that some suit in DC or some MBA in Manhattan swoops in to save the day is pure Cassandra.

We’re in deep shit. And we have earned it. The question is: will we change our ways or continue down the drain?

[OC Burns]

[quote=tucker…]it looks like this is the real start of the next great depression very scary times indeed.its only going to get worse.this is question for anybody.
what can help to fix these problems raising interest rates and to stop printing so many dollars will not help in this early stage imoho ? i see very dark days for the usa. i think we still are the best country and will pull out of this, that gives me hope at least.[/quote]

The best at what, Tucker? American exceptionalism is fine (if you choose), but if we continue to believe that we are “the best country,” no matter what we do to others, no matter what our financial situation, no matter what rights are lost,, no matter what our K-12 education system accomplishes, no matter what corruption we see, and no matter what we actually turn into, then what does being “the best” really mean?

I agree that the US is a good place to live. But let’s not be starry-eyed to the point of ignoring reality. The US has fallen far from its’ highs in almost all fields. Perhaps if Americans believed that we WERE the best, and can be again, we would ditch our apathy and begin rebuilding a great Republic.

Until then, hoping that some suit in DC or some MBA in Manhattan swoops in to save the day is pure Cassandra.

We’re in deep shit. And we have earned it. The question is: will we change our ways or continue down the drain?

[OC Burns]

[quote=tucker…]it looks like this is the real start of the next great depression very scary times indeed.its only going to get worse.this is question for anybody.
what can help to fix these problems raising interest rates and to stop printing so many dollars will not help in this early stage imoho ? i see very dark days for the usa. i think we still are the best country and will pull out of this, that gives me hope at least.[/quote]

The best at what, Tucker? American exceptionalism is fine (if you choose), but if we continue to believe that we are “the best country,” no matter what we do to others, no matter what our financial situation, no matter what rights are lost,, no matter what our K-12 education system accomplishes, no matter what corruption we see, and no matter what we actually turn into, then what does being “the best” really mean?

I agree that the US is a good place to live. But let’s not be starry-eyed to the point of ignoring reality. The US has fallen far from its’ highs in almost all fields. Perhaps if Americans believed that we WERE the best, and can be again, we would ditch our apathy and begin rebuilding a great Republic.

Until then, hoping that some suit in DC or some MBA in Manhattan swoops in to save the day is pure Cassandra.

We’re in deep shit. And we have earned it. The question is: will we change our ways or continue down the drain?

[OC Burns]

[quote=tucker…]it looks like this is the real start of the next great depression very scary times indeed.its only going to get worse.this is question for anybody.
what can help to fix these problems raising interest rates and to stop printing so many dollars will not help in this early stage imoho ? i see very dark days for the usa. i think we still are the best country and will pull out of this, that gives me hope at least.[/quote]

The best at what, Tucker? American exceptionalism is fine (if you choose), but if we continue to believe that we are “the best country,” no matter what we do to others, no matter what our financial situation, no matter what rights are lost,, no matter what our K-12 education system accomplishes, no matter what corruption we see, and no matter what we actually turn into, then what does being “the best” really mean?

I agree that the US is a good place to live. But let’s not be starry-eyed to the point of ignoring reality. The US has fallen far from its’ highs in almost all fields. Perhaps if Americans believed that we WERE the best, and can be again, we would ditch our apathy and begin rebuilding a great Republic.

Until then, hoping that some suit in DC or some MBA in Manhattan swoops in to save the day is pure Cassandra.

We’re in deep shit. And we have earned it. The question is: will we change our ways or continue down the drain?

[OC Burns]

[quote=tucker…]it looks like this is the real start of the next great depression very scary times indeed.its only going to get worse.this is question for anybody.
what can help to fix these problems raising interest rates and to stop printing so many dollars will not help in this early stage imoho ? i see very dark days for the usa. i think we still are the best country and will pull out of this, that gives me hope at least.[/quote]

The best at what, Tucker? American exceptionalism is fine (if you choose), but if we continue to believe that we are “the best country,” no matter what we do to others, no matter what our financial situation, no matter what rights are lost,, no matter what our K-12 education system accomplishes, no matter what corruption we see, and no matter what we actually turn into, then what does being “the best” really mean?

I agree that the US is a good place to live. But let’s not be starry-eyed to the point of ignoring reality. The US has fallen far from its’ highs in almost all fields. Perhaps if Americans believed that we WERE the best, and can be again, we would ditch our apathy and begin rebuilding a great Republic.

Until then, hoping that some suit in DC or some MBA in Manhattan swoops in to save the day is pure Cassandra.

We’re in deep shit. And we have earned it. The question is: will we change our ways or continue down the drain?

[cr]

So is Countrywide to Subprime what IndyMAC is to Alt-A? from what I’ve read so far it sounds like they were Alt-A rather than subprime.

Is this a sign of how much worse Alt-A will be than subprime? Countrywide was pretty bad, but IndyMAC wasn’t even on the FDICs list of unhealthy banks last quarter.

And what about all their REOs?

[cr]

So is Countrywide to Subprime what IndyMAC is to Alt-A? from what I’ve read so far it sounds like they were Alt-A rather than subprime.

Is this a sign of how much worse Alt-A will be than subprime? Countrywide was pretty bad, but IndyMAC wasn’t even on the FDICs list of unhealthy banks last quarter.

And what about all their REOs?

[cr]

So is Countrywide to Subprime what IndyMAC is to Alt-A? from what I’ve read so far it sounds like they were Alt-A rather than subprime.

Is this a sign of how much worse Alt-A will be than subprime? Countrywide was pretty bad, but IndyMAC wasn’t even on the FDICs list of unhealthy banks last quarter.

And what about all their REOs?

[cr]

So is Countrywide to Subprime what IndyMAC is to Alt-A? from what I’ve read so far it sounds like they were Alt-A rather than subprime.

Is this a sign of how much worse Alt-A will be than subprime? Countrywide was pretty bad, but IndyMAC wasn’t even on the FDICs list of unhealthy banks last quarter.

And what about all their REOs?

[cr]

So is Countrywide to Subprime what IndyMAC is to Alt-A? from what I’ve read so far it sounds like they were Alt-A rather than subprime.

Is this a sign of how much worse Alt-A will be than subprime? Countrywide was pretty bad, but IndyMAC wasn’t even on the FDICs list of unhealthy banks last quarter.

And what about all their REOs?

[Ash Housewares]

People are lining up around the block to take their money out today:
http://www.latimes.com/business/la-fi-indymac15-2008jul15,0,431088.story

A little late for that, oh well. What is funny is that those of you familiar with Pasadena will realize that Wamu has a big building about a block away. I wonder how many of those people lining up today will go deposit their money in Wamu right next door.

[Ash Housewares]

People are lining up around the block to take their money out today:
http://www.latimes.com/business/la-fi-indymac15-2008jul15,0,431088.story

A little late for that, oh well. What is funny is that those of you familiar with Pasadena will realize that Wamu has a big building about a block away. I wonder how many of those people lining up today will go deposit their money in Wamu right next door.

[Ash Housewares]

People are lining up around the block to take their money out today:
http://www.latimes.com/business/la-fi-indymac15-2008jul15,0,431088.story

A little late for that, oh well. What is funny is that those of you familiar with Pasadena will realize that Wamu has a big building about a block away. I wonder how many of those people lining up today will go deposit their money in Wamu right next door.

[Ash Housewares]

People are lining up around the block to take their money out today:
http://www.latimes.com/business/la-fi-indymac15-2008jul15,0,431088.story

A little late for that, oh well. What is funny is that those of you familiar with Pasadena will realize that Wamu has a big building about a block away. I wonder how many of those people lining up today will go deposit their money in Wamu right next door.

[Author]

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