IndyMac: Mini Bank Run, Thanks to Schumer

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Bank regulators were generally not worried about mortgage origination standards. the consequences of what went wrong in the run up to the crisis would be enormous. The economic impact of the crisis has been devastating. And the human devastation is. thanks to the Fed’s Regulation Q, banks and thrifts were stuck with offering [roughly 5%.

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IndyMac Collapses Under Financial Woes. The run on IndyMac in the last couple of weeks probably accelerated the closure date. SEABROOK: But, now, the regulators are blaming Senator Schumer’s letter for these problems. Mr. ELY: Well, IndyMac’s problems are not the fault of Senator Schumer and they long predate the letter.

IndyMac is a ship of fools and they landed on the rocks! Blaming Senator Schumer is the same as blaming God for creating the heavens and the earth! Had God not done it, IndyMac would have never existed to be doomed to failure! Nice try, no cigar!

7/1/08 housing wire: indymac: mini bank Run, Thanks to Schumer: "As a result of Sen. Schumer making his letters public and the resulting press coverage, we did experience elevated customer inquiries and withdrawals in our branch network last Friday and on Saturday of roughly $100 million, about of 1% of total deposits," the bank said.

Sassy Sarah with Jay Townsend on The Schumer Bank Run.mov In 2008 indymac faced a bank run after senator. Over the 11 days following the public release of his letter depositors withdrew over $1.3 billion from IndyMac. Schumer was right; the bank was in trouble due to its mortgage holdings. This is another case where problems in credit spilled over into liquidity problems when investors lost confidence in.

Michigan AG to probe DocX signatures  · "Robo-signing" of mortgages still a problem. Linda Green worked for a company called DocX that processed mortgage paperwork and was shut down in the spring of 2010.. In Michigan.

I have some matters that are pressing and thus, am currently unavoidably detained. However, the most recent updates of Friday and Saturday, April 22, and 23rd are timely and appear below the rerunning of the original April 5, 2005 "A Fatwah, Foie Gras Faux Pas", which, is now posted below with today’s date. The Friday, April 22 and Saturday April 23 stories are below the "Fatwah Foie Gras Faux.

CCAR is an assessment of the capital adequacy and capital planning of large bank holding companies. The frb approved 34 capital plans (three with conditions) out of 35 participants.. IndyMac: Mini Bank Run, Thanks to Schumer .