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.