US regulators close IndyMac Bancorp savings bank »
Posted by: Beau7890 1 month, 3 weeks agoIndyMac Bancorp became the biggest retail bank to fall victim to the US mortgage crisis on Friday, as regulators shut down the Californian savings back after the markets closed because it was unable to raise the cash needed to make good the almost $900 million of losses it has suffered in the worst housing crisis since the Great Depression.
Read Full Story at business.timesonline.co.uk
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Beau78901 month, 3 weeks ago
Friday afternoon after the stock market had closed--and when most people pay less attention to the news.
When viewed in conjunction with this other story about Bernanke and Paulson calling for new powers to manage liquidation of financial institutions, it's relly scary.
http://money.propeller.com/story/2008/07/11/a-d...
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Beau7890
I used to have a quote here from Andre Breton, author of several surrealist works.
I now think that if you're here on Propeller ...
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