A crowd of over 150 anxious Indymac Bank customers waited for hours today to check on their money at the troubled bank's Santa Monica branch. The FDIC took over control Indymac after it was shut down by the feds on Friday. Tempers flared as people cut in line while others had been waiting in line since 7 A.M. this morning. This is the 2nd largest U.S. bank failure in history.
In case you were wondering the largest U.S. bank failure was Continental Illinois National Bank and Trust Company in May 1984, which was and still is the largest bank resolution in U.S. history.
3 comments:
Hi. I found your blog very interesting. Every time it comes to bank services I do not know which bank to choose. It is quite a problem at the present time you know. So many troubles and misunderstandings, that it is quite scaring. This time, on a really great site, www.pissedconsumer.com, I learned about IndyMac Bank. The bank has numerous reviews. Most of the feedbacks are positive. That is why this time I consider IndyMac Bank.
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
Hello. I find your blog very interesting. I think that everyone had something to do with banks. It is hard to choose a good and reliable one. After so many banks I had to deal with I should say that Indymac Bank is the best one. I learned about it from www.pissedconsumer.com. Although the feedbacks about the company were not very positive I still ran a risk and went there.
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