IndyMac shut down
July 12th, 2008
The bailout news is growing out of what anyone could have expected. IndyMac was no small bank, its assets number $32 Billion. This isn’t a regional savings and loans blowup, IndyMac was very large and established as a major mortgage banking institution in the United States. Most of the depositors were under the $100,000 FDIC insurance threshold and will be able to make payments, draw checks and withdraw money via the ATM until this mess is sorted. Read more…
