"IndyMac Bancorp Inc customers lined up outside a branch at the company's headquarters on Monday, hoping to withdraw their money after regulators seized what was once one of the largest mortgage lenders in the United States.
Several hundred people arrived around 4 a.m., five hours before the Federal Deposit Insurance Corp planned to open that branch." LINK
Several hundred people arrived around 4 a.m., five hours before the Federal Deposit Insurance Corp planned to open that branch." LINK
Looks like the '30s. Everything old is new again.
2 comments:
Now that IndyMac is the first of many banks to fail, I think we're going to see a lot more banks, not only close for the weekend, but close for good and go bankrupt. Rumors talk about 90+ banks, I think that's a little exaggerated, but very well possible. I would guesstimate around 30+ banks will close shop.
I'm an investor in the stock market and have started to build a position in Bank of America. One of the few 500 lb. gorillas left in the room. Every dip, I pick up more shares. I don't think there going anywhere, but you never know. Investments are all risky.
I never thought I would see this happen here in the USA, but here we are....let's all cross our fingers.
petes2cents.com
Yup- looks like we're in for a heck of a ride!
But gack, BOA- now, that would be scary. All of it seems unreal. Good luck with your investments!
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