Saturday, July 12, 2008
Federal regulators seize IndyMac Bank.
After a memorable two weeks marked by a massive layoffs announcement and panicked customers rushing in to withdraw their savings at a tune of $100 million a day, Indy Mac Bancorp was finally seized yesterday evening by the Federal Deposit Insurance Corporation which will operate it and try to sell it.
Here is the million dollar question : are all those frightened customers going to come back now that a better banker , in the form of the US government , is in charge ?
Here is the million dollar question : are all those frightened customers going to come back now that a better banker , in the form of the US government , is in charge ?
Labels: IndyMac Bancorp
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