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IndyMac Seized by U.S. Regulators Amid Cash Crunch
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Ari Levy and David Mildenberg
Bloomberg
July 12, 2008
IndyMac Bancorp Inc. became the second-biggest federally insured financial company to be seized by U.S. regulators after a run by depositors left the California mortgage lender short on cash.
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The Federal Deposit Insurance Corp. will run a successor institution, IndyMac Federal Bank, starting next week, the Office of Thrift Supervision said in an e-mailed statement today. Customers will have access to funds this weekend via automated teller machines. Regulators intend to eventually sell the company.
The Pasadena, California-based lender specialized in so- called Alt-A mortgages, which didn’t require borrowers to provide documentation on their incomes. IndyMac’s home state, where Countrywide Financial Corp. was also located before it was bought last week, has been among the hardest hit by foreclosures.
“Given their focus on Alt-A and a heavy concentration in California, they would have suffered meaningful losses in almost any scenario,” Brian Horey, president of Aurelian Management LLC in New York, said before the seizure was announced. Aurelian is short-selling IndyMac shares to gain from declines.
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July 12th, 2008 at 12:55 pm
I can NOT believe how happy this makes me feel! I interviewed 6 times in Austin for a high paying Loss Mitigation positon. Got offered a spot, was given an offer. Then found out my preditor homosexual boss by the name of Ernest Escamilla that I worked for at GFB/Temple Inland some years ago, put the Kabash on my hiring. He was the supervisor at GFB. Tried to screw me again
Hee Hee.
Sooooooo, with the help of a voodoo preistest from New Orleans we put a hex on them and the date of the bank failure that was written in chalk between two peices of slate ???? Get this…7/12/08. Idn’t that some shit. Had to comment
July 12th, 2008 at 1:19 pm
Help me Sign this ANTI – Fluoride petition
I am a 27 yr.old wife an mother of 5 beautiful children,whom I adore and want to keep healthy an safe from all harm.Seeing that fluoride is in our water it is hard to do that.I am here trying to inform others about fluoride and the extremely harmful effects of this product. I was sickened to learn all the crap that it causes,such as holes in the brain,thats right it eats away your brain,along with so much more.You can see for yourself at Fluoridealert.org/..You will be alarmed at all the effects it has on us,but yet why do they put it in our water??Good question I have my own beliefs on this.Please join me to stop this madness.It will take all of us to stop it…
http://www.thepetitionsite.com.....ide2gether
July 12th, 2008 at 1:22 pm
nice to hear actual personal stories on these sites instead of the usual run of the mill comments. imagine the possibilities!
July 12th, 2008 at 1:42 pm
Oh the poor rich people– how will they get along???hahahha
July 12th, 2008 at 1:53 pm
Bank & Financial quarterly reports out in a few days. The summer is starting to heat up;
Wildfires in California, Washington…Tornados, Floods, Hurrican Season just got started with a blessing from Bertha, Heat Waves…water, engery, food shortages…..Samonella, Wooping Cough, Largest Measels outbreak in decades….Ecoli….Disapearing Honey bees, corn crop in midwest is ruined……Large Union Strikes in Telecom, truckers, shipyars, teachers…most unions are planning strikes, Replubican and Democratic N. Conventions….+ Anarchist + Tyrannts + FEDS + Protesters + FREE PROTEST ZONE DEFIANCE + = God help them
NFL – BUDWEISER=damn….A AMERCIAN ICON FOR 156 YEARS WHETHER U DRINK IT OR NOT…….
Iraq…Afganistan…..Iran………
Gast prices…..
The Olympics……..False Flags…………..
The Summer is just heating up……….
CAPPED BY THE 1+ TRILLION FINANCIAL WRITEDOWN AT THE END OF THE 3RD QUARTER
Makes you wonder what the state of the union will look like at election time…….
The Summer is Heating Up.
Prepare.
July 12th, 2008 at 2:06 pm
prob. because they didn’t require borrowers to provide documentation on their incomes
July 12th, 2008 at 2:21 pm
Banks have been going down for hundreds of years. So big deal. The “Federal” Reserve is the problem.
July 12th, 2008 at 2:37 pm
David, where are you?
July 12th, 2008 at 2:53 pm
Poor Dollar!! It’s crying….. “Help I’m falling and I can’t get up!!
July 12th, 2008 at 3:55 pm
It’s just getting started. We didn’t learn, we didn’t think for ourselves, we never researched, we just sat silent for decades, even centuries, never doing anything more than maybe bitch and moan here and there. Now the past catches up to us and we wonder what’s going on.
The criminals that are behind the Federal Reserve System are doing exactly as they have planned for generations. And that is to do exactly what Thomas Jefferson said they would do if they ever got control of the issuing of our currency.
I’ll put two comments on here. One is from Thomas Jefferson and the other is from J.P. Morgan.
After you read them , you make your own decision as to whether history has now raised it’s ugly head.
1) “If the American people ever allow private banks to control the issue of currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers conquered.” – Thomas Jefferson
2)”Capital must protect itself in every possible way, both by combination and legislation. Debts must be collected, mortgages foreclosed as rapidly as possible. When, through the process of law, the common people lose their homes, they will become more tractable and more easily governed through the strong arm of government applied by a central power of wealth under leading financiers. These truths are well known among our principal men who are now engaged in forming an imperialism to capitalism to govern the world. By dividing the people we can get them to expend their energies in fighting about questions and issues of no importance to us. It is thus by discreet action we can secure for ourselves that which has been so well planned and so successfully accomplished.” – J.P. Morgan
This document ties in with the “Bankers Manifesto” US Senate Document 43 of the 73rd Congress 1st Session 1934
Funny that Thomas Jefferson, the only President in US History to ever completely remove the charter of central banks and withdrew all the US money and paid off the national debt, told and warned the American people that if they ever allow banks to control their currency again, the corporations that will grow up around them would deprive them of all their property.
Funny how JP Morgan said that’s exactly their plan in 1934.
They’re getting it done, and no one can stop them, or can they? Anyone who defies them or even gets close, or attempts to add a competitive currency gets killed. Lincoln said screw you to the bankers and refused to pay 24 -36% interest, printed interest and debt free currency (greenbacks) to save the us citizens interest, they killed him. Thomas Jefferson, canceled the US Central Bank Charter, paid off the national debt, and they attempted to assassinate him but both guns from the assassin jammed. JFK ordered 4.2 billion in silver back United States Notes to be printed and circulated by the Treasury Dept , six months after his request and only a few months after his famous conspiracy speech where he mentioned that since he held such a high and noble office he felt it his duty to educate the people about our banking criminals, for such actions in favor of the people, they ushered him down the plaza in Dallas and shot him on national television. They sent what looks like their final message that anyone who attempts to abolish their monopoly or bring a competitive currency to the United States will be killed.
Not a soul in Washington now will even speak above a whisper when they speak in defiance of it.
Except Ron Paul, who everyone in Washington thinks is a goofball, which in actuality he is the only one not bought and paid for on the International Bankers list of treasonist assholes that call themselves Congress.
My apologies to our forefathers, for we have failed them and we have failed our country.
July 12th, 2008 at 4:30 pm
Ladie and Gentlemen, people of this country and world. Get ready to see with your own eyes the first chapter of what you are about to experience. You have been invited for a long time to live HELL in this uncertain times. You have been living it by your savings, homes, jobs, dissaperaring in an alarming rate. Next it will be your banks, your cars, your children and last YOU!!!! not only people are at risk, but everything you see around you and sooner tan you think you will wake up and find out you have to obey new rules and strange entities. Get ready to give it all up and the excuse once again will be a foreign group or situation much worse than what happened in september 11. Curfew at 8 pm, one ounce of rice and beans. I have made an investment my friends to at least defend my home with some fire power, i hope you will too.
July 12th, 2008 at 6:19 pm
Let me get this straight: you could get a mortgage worth hundreds of thousands of dollars and you didn’t even have to prove your income? I used to hear (and see) commercials advertising loans of a quarter, a half, even a full million dollars with payments of only a few hundred dollars a month! The math doesn’t add up, folks!
I’m sorry for all the people losing their homes and for all the people who can’t buy homes. But, come on! If you are making only a modest income, you can’t live in a castle. I make C$70,000 per year. A good income, but it won’t allow me to own a million-dollar monster home. And, I have to prove that C$70,000 to get a loan!
My American friends, the time has never been better to move to Canada.
July 12th, 2008 at 6:35 pm
Good stuff George Washington, that’s a lot of great info there.
July 12th, 2008 at 7:07 pm
George Washington, Are you mixing Thomas Jefferson with Andrew Jackson?
July 12th, 2008 at 8:27 pm
It was bound to happen sooner or later. 911 was the catalyst for the bankers the banks and the mortgage lenders to get together with relators and appraisers to create a false economy that would eventually collapse and fall upon everyones head. Invest in the “dolla” The new Hawaiian currency backed by gold and ready to hit the currency market, or better yet get on your computer and create your own dolla! Good luck
Im glad to see the end of the whole false currency scam! Perhaps now we can get back to real value in something tangible. Love to all MCB
July 12th, 2008 at 8:28 pm
DONT WORRY,everyone will be able to get their “monopoly money”well even that is worth more than the dollar right now,BUT REALLY does the american PAPER money even have a value?NO,even our coinage is barely worth squat,(no more silver and gold)only older coins are of any value,with higher silver content.and gold is no longer a standard accepted in the united states,WHAT DRIVES THIS MADNESS?our complacancy to do nothing and we give the CRIMINAL GOVERNMENT concent through this inactivity.
July 12th, 2008 at 9:12 pm
What is the matter with how people think involving money and the value of it? It is all relative and that relativity is based on whatever standard that is accepted. Our Federal Reserve Notes were accepted as having the greatest value in all the world until recently. It has not changed. So that indicates that it is all by the standards that are accepted at any given time in history as to what has value and what does not. That includes Monopoly money. When the new bills that have been constantly coming out with different designs these last few years are first seen, I will bet many of you thought it was Monopoly money. At that split minute, it had no value to you. Your standard had been based on something else. So there you have it all in a nutshell as to the value of the dollar.
I also think it is a laugh about “we must raise the minimum wage” fear tactic always used throughout at least the last 100 years here. It means nothing although it sounds good. I have not ever heard even the best financial experts ever elaborate on one simple fact. That fact involves relativity (coincidnetally also). If one wage on the bottom goes up, so do all the above ones to be relative in relation to that particular new set standard. It is only where on that ladder or scale anyone is at the time when it is time for that person to purchase something. Even so, it all evens out in the end and if anyone understands equations, now you can finally see the farse in that “it is all for you to be able to make a better living” premise.
Relativily yours,
Rhonda
July 12th, 2008 at 11:38 pm
why we focus on the indymac…..Mac daddy that caused this is out free….mister bubble man himself…alan greenspan
July 12th, 2008 at 11:38 pm
why we focus on the indymac…..Mac daddy that caused this is out free….mister bubble man himself…alan greenspan happy days are here again
July 13th, 2008 at 12:22 am
Oh Founding Fathers, what a mess we’re in… 90 more Banks are on the list; they won’t tell us which banks though; they don’t want any ‘Runs on Banks’… oh God, this is really going to suck…
July 13th, 2008 at 1:56 am
Great stuff George Washington….
It amazes me the level of denial some of the sheep are.
I have two friends who both bank with Washington Mutual…a company that has lost like 90% of its value in what..18 months…I keep telling them to switch banks…..but there in such denial that they don’t even want to research the stock on their own bank….unbelievable..see in Seattle everything is still relatively booming….In fact I see license plates from all over more and more…especially from California….talk about a migration, lol……..People up here are in denial….
What will it take to awake the masses……and not fight amongst ourselves…..
July 13th, 2008 at 2:19 am
I to believe that we are in the midst of the great fall. For all of you that have some cash that for whatever reason or another isn’t in gold and silver, I urge you to consider opening a bank account that will hold your money in a foreign currency of your choice. An American bank that will do this is Everbank ( Everbank.com). It is very easy to open an account with them. Probably, the safer option would be to get your cash out of the country all together. You can do that at HSBC (Hong Kong and Singapore Bank). They have locations all over the world. You can open an account at their Singapore bank by taking their application which you can obtain by contacting them through their website (www.hsbc.com.sg) to a branch in this country to have your ID verified, and then mail the application to Singapore. I hope that this info will help some of you before our dollar is truly worthless.
July 13th, 2008 at 8:47 am
Those with multiple accounts under $100,000 are probably screwed. During the S & L mess I had a friend with three accounts each under $100,000 that totaled $230,000. She was reimbursed a total of $100,000. Those at the S & L assured her all the money was insured. There was another S & L across the street. She lobbied Congress to no avail.
July 13th, 2008 at 8:56 am
Yes IndyMac was a very sweet deal !! You could work for Walmart and get a $500,000 home on their credit!! I guess the good times are over and now we must pay!!
July 13th, 2008 at 9:45 am
They said most of the Banks on the list were smaller banks, but they wouldn’t name them. Sounds like they’re trying to cause a run on smaller banks. Maybe the larger Banks would like to get rid of their competition. Just a thought.
July 13th, 2008 at 4:01 pm
why do we agree to pay these criminals?we can FREEZE their assets and end this today!we are the ones funding these political criminals,WE ARE IN CONTROL AND ALL OF THIS IS OUR OWN FAULT,STOP PAYING TAXES!!!!!!!!!!!!IT IS THAT SIMPLE,GOD DAMN IT WAKE UP AND STOP PAYING YOUR FUCKING TAXES,THIS COUNTRY WAS FOUNDED ON A TAX REVOLT.
July 13th, 2008 at 5:07 pm
learn some truth behind the nwo brainwashing system they have in place at our public school systems!!!
myspace.com/freehovind <————–watch all the videos!!!
they put him in federal prison for illegitimate tax reasons till 2015 (it’s a 10 year sentence). some MURDERS don’t even get that & you know the reason why..? cause he was messing with the way they brainwash the our kids & future generations & the masses to believe that you are not created by God… nor are given any God given rights. like life, liberty, the pursuit of happiness, freedom from oppression, tyranny, police state… and many more. hope you get the bigger picture my friends. if you rewind time back… there’s only 1 way & 1 truth to how we all got here & to where we are all going in the end.
take care & God Bless
July 13th, 2008 at 9:16 pm
DITTO Dunmbass
July 13th, 2008 at 9:39 pm
THERE IS A CONSOLIDATION OF BANKING IN THE WORLD. DO NOT DO NOT PUT MONEY IN BANKS. DO NOT DO NOT PUT MONEY IN ANY BANK. CASH YOUR CHECKS, PROTECT YOUR CASH EVEN UNDER MARSHALL LAW THERE WILL BE A BLACK MARKET FOR “OLD CASH”.
BLEED THE BANKS…BRING EM ON. RUN THE BANKS TAKE YOUR CASH WHILE YOU CAN STILLL GET IT.
TAKE YOUR CASH. PROTECT YOURSELF. HUNKER DOWN LEARN COMMUNICATION SKILLS.