As you, I've believed that Schmucky was trying to start an economic crisis when he went public with his letter to the FDIC concerning the problems at IndyMac -- a California bank.
At the time, the FDIC was trying to find a buyer for the bank -- so as to avoid a run.
This was in September, 2008, by the way. And when Schmucky's gambit didn't send the economy into the dumpster, the Dems then had to pull the plug on Fannie Mae and Freddy Mac to get what they wanted.
2009-09-18 — ml-implode.com
When it comes to being inflexible and unresponsive to homeowners in need of a loan modification, IndyMac Bank, which has just been renamed “One West Bank,” is legendary.
This is the bank that failed spectacularly in July 2008, was taken over by the FDIC, and ended up costing taxpayers something like $11 billion... give or take... I can’t keep track of billions anymore... I’ve moved on to tracking trillions. And the new buyers of this fire sale financial institution that’s deservedly become the poster child for stupid lending tricks, includes billionaire George Soros.