Feds close down IndyMac Bank
In the biggest bank failure of the housing downturn to date, federal banking regulators on Friday afternoon closed IndyMac Bank FSB, naming the Federal Deposit Insurance Corp. (FDIC) as conservator.
Based on preliminary estimates, the total cost of this failure to the FDIC will be anywere from $4 Billion to $8 Billion.
For an excellent story please visit Inman News at: http://www.inman.com/news/2008/07/11/feds-close-down-indymac-bank
Based on preliminary estimates, the total cost of this failure to the FDIC will be anywere from $4 Billion to $8 Billion.
For an excellent story please visit Inman News at: http://www.inman.com/news/2008/07/11/feds-close-down-indymac-bank
posted by Thomas Heimann at 12:51 PM
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