IndyMac Bank & FDIC

Posted: July 15, 2008 at 10:21 pm by Chuck

Last Friday the new Operating Officer of IndyMac Bank (who was appointed by the FDIC) said the FDIC takeover would be a "non event". He also stated that come Monday morning it would be ‘business as usual’.

In California where IndyMac Bank has their retail banking offices it has been anything but business as usual. Reports of police having to be called in, fights breaking out in lines, and people being turned away unable to get their money.

If this is a sign of what is to come as more banks fail then I don’t hold out much hope for the FDIC to manage anything.

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2 Responses to “IndyMac Bank & FDIC”

doug on July 15th, 2008 11:32 pm

our banking system is at the hands of the FDIC.. god help us
ecklebob on July 15th, 2008 11:56 pm

Thanks for the vids Chuck. Those poor people . How sad not to have access to their money. Especially the people living paycheck to paycheck. It’s unprofessional, heartless, and callous that the FDIC is not out there with shirtsleeves rolled up DOING THEIR DAMN JOB! I’ll bet if any of them had an IndyMac account, it was damn well closed out BEFORE the takeover. Oh, that would be taking advantage of inside information. My mistake.