Posts tagged as:

Indymac Bank Failure

Should the FDIC & Sheila Bair be in Charge of Cleaning Up the Toxic Mortgage Crisis?

by Moe Bedard

This blog and my life has been dedicated to following what lenders, servicers and our government have done and are doing to assist the millions of Americans that are facing foreclosure as a result of being sold defective credit instruments. AKA subprime and ALT A mortgages.

In my hundreds of hours of research and work, only one agency [...]

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FDIC Chairman Sheila C. Bair Issues Statement on IndyMac Federal Bank, FSB, Conservatorship

by Moe Bedard

FOR IMMEDIATE RELEASE
July 13, 2008

Media Contact:
In Washington: Andrew Gray (202) 898-7192,
Cell: 202-494-1049
angray@fdic.gov

 

FDIC Chairman Sheila C. Bair, today issued the following statement about IndyMac Federal Bank, FSB, the conservatorship created by the FDIC to continue to provide banking services in communities served by the former IndyMac Bank, F.S.B.

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IndyMac to reopen ’strong and safe,’ new boss says

by Moe Bedard

PASADENA, California (CNN) — California bank IndyMac will reopen as a “strong and safe institution” under federal management and a new name Monday, days after regulators closed it, the firm’s new CEO said Sunday.

“Come Monday morning, it will be business as usual for all insured customers,” said John Bovenzi, who was placed in charge of [...]

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