IndyMac Bank Goes Down

Scene at HQ in Pasadena, California - 1st day of takeover by FDIC

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IndyMac Bank Goes Down

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Scene at HQ in Pasadena, California - 1st day of takeover by FDIC

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by truth, July 25, 2008

Great Upload. I think this is only the start of a massive Bank Collapse of 2008 Heads UP.

by bdn, July 25, 2008

the fed won't allow any more banks to collapse! When you hit the bottom of a crash or downturn, you always see consolidation. This is what is happening, but I don't see the fed allowing this to happen much more (as we see in the 300Billion dollar bill that is being passed)

Cool upload though

by larouchepac, July 27, 2008

The Fed doesn't have a choice. The banks WILL collapse, they are just trying to control the system as it unwinds. Whats really funny is that the day you posted this comment on the 25th, two more banks collapsed. The First National Bank of Nevada, of Reno, and the First Heritage Bank of Newport Beach, California. The FDIC has been appointed receiver for both banks. FNB Nevada had $3.4 billion in assets, and the OCC said the "bank was undercapitalized and had experienced substantial dissipation of assets and earnings due to unsafe and unsound practices." First Heritage, an affiliate of the Nevada bank, had $250 million in assets and was "critically undercapitalized," the OCC said. They were the sixth and seventh bank failures of the year in the U.S.

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