IndyMac 50 cents on dollar?

uscitizen said:
Kill the messenger.

Is he any worse than thoe in the industry who keep telling upbeat spin when they know it is going to crap ?
Click to expand...
More like, blame the cause.

Without his remarks, the run on the bank would have been so far less likely, the bank likely could have withstood the problems it was having considering the actions by the government.
 
Ignore the problem behind the curtain.
Shoot the one who pulls back the curtain.

Few will admit to the severity of the problems we face in our near future.
A ballless country.
 
uscitizen said:
Ignore the problem behind the curtain.
Shoot the one who pulls back the curtain.

Few will admit to the severity of the problems we face in our near future.
A ballless country.
Click to expand...
Right. Pretend it is okay to create more fear in a situation where fear is the problem. It was stupid and irresponsible to make those comments. It was the actual cause of the run.
 
Yeah fear based on knowledge is a dangerous thing.

Fear used for political purposes is fine though ? Mushroom clouds ? He's a Muslim ?
Yeah that is fine to debate, but not fiscal stuff ?

truth is truth regardless of the application.
 
What was that movie that I keep thinking about...

"You don't understand the money isn't here, it is in his house, and his... "

Dang. I see the picture, black and white and all... But I can't remember the title.
 
uscitizen said:
Yeah fear based on knowledge is a dangerous thing.

Fear used for political purposes is fine though ? Mushroom clouds ? He's a Muslim ?
Yeah that is fine to debate, but not fiscal stuff ?

truth is truth regardless of the application.
Click to expand...
Who said that other than you? Are you trying to give me an opinion that you think you'd be able to argue with?

Fear caused the failure, no bank could withstand that run, caused by fear inflamed by his statements.

Reality is, all of them would have had all of their money without the run. The bank wouldn't have failed, it would be there, accessible.

Instead many people will get, what was it... 50 cents on the dollar?
 
"Imploded*" Banks:General Implodes
Carnation Banc

Freemont General

Bear Stearns

Northern Rock PLC

Coast Bank

FDIC Failed Banks
IndyMac Bancorp Inc.

First Integrity Bank

ANB Financial

Hume Bank of Hume, Mo.

Douglas National Bank

Miami Valley Bank

NetBank

Metropolitan Savings Bank

Failed Credit Unions
St. Luke Baptist Federal Credit Union

Huron River Credit Union

Green Tree Federal Credit Union

Sharebuilders Federal Credit Union

Credit Union Conservatorships
Communities United Credit Union

Huron River Area Credit Union

Obelisk Federal Credit Union

Peoples First Choice Federal Credit Union

CAL State 9 Credit Union

Norlaco Credit Union

Zion United Community Credit Union

Writedown Rundown & General Distress:Name - ($) writedowns / capital raised and loss provisions / level III assets

Citigroup - $69.1B/$36B/$22.7B

National City - $200M

Merrill Lynch - $37.5B/*/$34.4B

Lehman Brothers - $7.2B/$6B/$42

Wachovia - $6.8B/$10.5B/$30.4B

Bank of America - $4.4B/*/$31.4B

Barclay’s PLC - $6.4B/$7.8B

HBOS PLC - $2.5B/$4B

JP Morgan Chase - $9.9B

Canadian Imperial Bank of Commerce(CIBC) - $6.7B

Wells Fargo - $2.9B/0/$23B

Morgan Stanley - $23.2B

Fifth Third Bancorp - $155M/$2B

Goldman Sachs - $6.2B

Washington Mutual - $1.6B

Royal Bank of Scotland - $3.6B/$24B

Societe Generale SA- $13.7 /$8.5B

BNP Paribas SA-$2.5B/ $0 cash

UBS - $45.0B/$41.5B

Royal Bank of Canada - $1.4B

more...




But no fears Toppy says everything is just fine and we all have GEDs.
 
uscitizen said:
Kill the messenger.

Is he any worse than thoe in the industry who keep telling upbeat spin when they know it is going to crap ?
Click to expand...

He created a panic situation. So this is hardly a kill the messenger situation. It is the same thing as yelling fire in a crowded theater
 
We have long been running on a false economy.
the house of cards is falling.
And most are in denial.


Perhaps I should convert most of the rest of my cash to gold. I doubt that in a worst case scenario the feds can pay their insured amounts.
 
Desh your associates is only slightly better than a ged.
Please point out where I said everything is fine.
I said hundreds of banks failed in the early nineties.
 
Topspin said:
Desh your associates is only slightly better than a ged.
Please point out where I said everything is fine.
I said hundreds of banks failed in the early nineties.
Click to expand...

and the economic impact then was ??? vs the economic impact now ???

Come on now you are a finiancial guru tipper.
 
Ahh USGED the recession you have been desparetly hoping for for 3 yrs is still not here.
Like I said, they happen as part of the business cycle on average every 7yrs. So eventually you'll be right and I'll fall out of my chair laughing in your face when you say see I was right. BHAHAHAH
 
uscitizen said:
Yeah fear based on knowledge is a dangerous thing.

Fear used for political purposes is fine though ? Mushroom clouds ? He's a Muslim ?
Yeah that is fine to debate, but not fiscal stuff ?

truth is truth regardless of the application.
Click to expand...

Look at it this way US....

Say a person has $50k in cash tucked away for emergency situations. This safeguard gives them peace of mind in that they know they can survive a crisis.

Next, a crisis happens. They have to dip into their $50k for medical reasons and are now down to $35k, still a good cushion, but they are not as strong as they were.

Then they lose their job while having the $35k stolen from them.

They might have been able to survive the loss of the job had they not had their safeguard taken away.

Schumer caused the safeguard of Indymac to be swiped away.



Next,
 
Topspin said:
Ahh USGED the recession you have been desparetly hoping for for 3 yrs is still not here.
Like I said, they happen as part of the business cycle on average every 7yrs. So eventually you'll be right and I'll fall out of my chair laughing in your face when you say see I was right. BHAHAHAH
Click to expand...

Wow, I am really shocked by that post. Tapper must be losing it bad from his 401K falling....
 
Solitary said:
When you open any account you are given plenty of warning that the FDIC only insures up to $100,000.

So if you had more than $100k in one account you are too stupid to have that much money.
Click to expand...

What I read yesterday clarified that to mean $100,000 per individual within one institution/bank, in whatever form. This included savings, checking, CDs, all lumped together. The advice was clear: diversify among banks.
 
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