Posted on 07/11/2008 4:18:12 PM PDT by politicket
IndyMac Bank, a prolific mortgage specialist that helped fuel the housing boom, was seized Friday by federal regulators in one of the largest bank failures in U.S. history.
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, a type of mortgage that can often be offered to borrowers who don't fully document their incomes or assets. ...
(Excerpt) Read more at online.wsj.com ...
To make the economy go bad is first on the libs’ agenda, especially in this election year. So they’ve been trying as hard as they can for the past several years, rhetorically and fiscally, to make it come true and you want to claim they’ve had no effect?
Bingo.
Where do we put our money?????
We have a lot at Oppenheimer and Fidelity.
Do we spread around our assets?
I understand when people get into loans that they cannot pay. I totally get that. However, I’m starting to get worried for us savers.
Or you could just get foreign currency certificates from Everbank...FDIC insurance (denominated in U.S. dollars, though) is an added bonus.
We’re not in a theater. This is America and the First Amendment is still operative.
Fact, they knowingly gave money to illegal aliens and others that had no business...That should clarify a few things.
“I’m starting to get worried for us savers.”
Respectfully, you should be worried...
The Fed does not give a hoot about savers...
It wants you to consume...
I’m not predicting the end of the world. But my understanding of God’s Word and the current environment of the United States shows that God has lifted His hand of protection from our country.
_______________________________________
Maybe He just has an itch.
How lofty.
The person who yells fire in the theatre is often challenged in the realm of facts.
Dang...9% growth in two days amidst this mess?
Congratulations!
I am an anomaly I suppose. Young Conservative who is too poor to have any investments. Hopefully, I will have the means to get in low sometime soon.
This all stems from rotten leadership...From the top down.
Times like now are when leftist come out of the woodwork and try to make things worse by causing panic.
That depends on what kind of cash you hold.
Turn it into cash, stuff it in the mattress and sleep with a shotgun ;-)
“George Bush’s reckless spending”
Bush has supported way too much spending, I agree. All the more reason to vote against Obama, who would multiply such spending several times over.
I’m convinced McCain is serious about putting the brakes on spending.
Yes, it has had an enormous effect - just as George Bush's reckless spending has had.
The fish rots from the head.
The Fed wants you to consume and buy stock. Both Democratic and Republican administrations have screwed this country over by punishing those who actually save money.
Agreed. At a time of a not so united country basking in all it's multiculturalism. Very unlike the 1930's.
FYI: it was the Community Reinvestment Act.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.