quote]The federal government said it took control of troubled IndyMac Bank today, in what regulators called the second-largest bank failure in U.S. history.
The Office of Thrift Supervision in Washington, the chief regulator of Pasadena-based IndyMac, said it transferred control of the $32-billion bank to the Federal Deposit Insurance Corp.
With all the talk about Fannie and Freddie and more possible bailouts this is devastating news! FDIC will make people whole on $100,000.00 or more and my guess is that everyone will be made whole after all is said and done!
The Dow is down 230 points and most people paying attention this morning saw the writing on the wall and a wholesale bail on IndyMac caused the seizure of the bank this afternoon!
