FDIC

    Chuck Schumer Owes the Public an Apology

    By: Erick Erickson (Diary)  |  July 14th at 06:08 AM  | 

    Federal regulators seized and shut down IndyMac on Friday evening. The bank will reopen today under federal control. For the first time in recent history, a United States Senator is being blamed for the crisis. In a written statement, the Office of Thrift Supervision, which regulated IndyMac, said “the immediate cause” of the failure was statements made by Sen. Charles Schumer, a New York Democrat. | Read More »

    BREAKING: Bank Collapses. Feds cite Sen. Chuck Schumer as “immediate cause” of collapse

    By: Erick Erickson (Diary)  |  July 11th at 06:05 PM  | 

    Federal regulators just seized and shut down IndyMac, a major mortgage specialist. The Pasadena, Calif., thrift was one of the largest savings and loans in the country with about $32 billion in assets. It now joins an infamous list of collapsed banks, topped by Continental Illinois National Bank and Trust Co., which failed in 1984 with $40 billion of assets. IndyMac specialized in Alt-A loans, | Read More »