“We were riding the wave… And all of a sudden…”
Sadly and unsurprisingly Indymac was seized by the Feds today after a run on the financial institution.
The FDIC recently rehired a number of retired regulator with experience dealing with bank failures. Many of these folks were around in the S&L crisis and so they’re seasoned and one hopes expert at managing what is certain to be a wave of bank failures.
Other much smaller banks have failed recently but they don’t make national news. (Like this one in Arkansas) And some titanic financial institutions have been allowed to appear NOT to have failed (Countrywide and Bear Stearns)
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