IndyMac Bank fails, seized by FDIC
Fannie Mae & Freddie Mac in trouble
The second largest bank failure in US history happened yesterday around 5:30pm. They held a majority of junk mortgages and were technically insolvent. NY Senator Chuck Schumer publicized a few letters to regulators questioning IndyMac’s solvency. Everyone ran to take out their deposits before [...]
Buckle your seatbelts
July 12th, 2008 · No Comments
Tags: Economics