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| Topic: IndyMac | |
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hmmmm...just read on Yahoo that 5 banks have gone tits up this year. That is way below the average of 155 per year, and way below the S&l crisis of several years ago when 7500 s&l's went under in one year. Besides, Indymac is an s&l, not a bank These are major banks though. They are holders of a large percentage of mortgages. If you take a home loan from your local bank these companies probably back them. Most of the time they directly own those mortgages. Its a very significant problem when they go bottoms up! Much more than if the local bank goes under! |
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True, Indymac second largest in history to die. That what happens when ppl lose their heads and get further into debt than they can bail themselves out of. And when financial institutions forget they are dealing other ppls money out the door, and treat it like so much dog food. No limit to greed and ego.
If my bank went tu, I would get back my $3.98 back because it is insured by the "full faith and confidence" of the US government 
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True, Indymac second largest in history to die. That what happens when ppl lose their heads and get further into debt than they can bail themselves out of. And when financial institutions forget they are dealing other ppls money out the door, and treat it like so much dog food. No limit to greed and ego. If my bank went tu, I would get back my $3.98 back because it is insured by the "full faith and confidence" of the US government I agree. And hell yeah, $3.98? Thats almost a gal of gas!!!
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Makes one wonder how many armour trucks are on their way to Indymac banks with money.....I think you will see lines and lines of people just waiting for the doors to open to get thier money out....I know I would....
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