Chuck Schumer said on Sunday, "Don't blame me for calling 911..." Yeah right... It's not certain that whether IndyMac' would have faced the same fate had Chucky not write that public letter to the Feds. One thing for sure, Chucky's letter destroyed however little confidence the depositors have. YEA, CONFIDENCE ......Bush was talking about it this morning...My friend, after finding out the bank's take over by the Feds, waited in line at 4am Monday morning....got all his deposits out...
IndyMac Bank was brought down by the the mortgage crisis. Here's some thought....
"Stated Income Loan" = LIE about your income
"No Doc Loan" = LIE about everything
Where's the regulators when this was going on? The Feds say they are on it now. Better late than never...
But, where did all that $$$ go? Who gets all the $$$. Any form of government rescue/bailout means us tax payers are left holding the beg!
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