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From the Blogosphere
Did the FDIC give away IndyMac?
Filed under: Deals, IndyMac Bancorp (IMB)  The Wall Street Journal asks the question (subscription required) "Is the government charging too little for the remains of failed mortgage lender IndyMac?"
The FDIC sold the corpse of IndyMac to a consortium of hedge funds run by a slew of highly-respected investors. The deal even includes a loss-sharing agreement.
The specifics of the deal are admittedly far beyond my understanding, but here's my questions: The Treasury has spent hundreds of millions of dollars buying "bad assets" from various banks -- why didn't these brilliant hedge fund managers g...
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Trading strategies for January, A victim's tale in Madoff scandal & 8 early tax-filing steps to take now - Today in Money 1/5
Second Largest Bank Failure in U.S. History: Feds Seize IndyMac
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It's no longer a rumor; it's now news. IndyMac (IMB) has failed. From Reuters: The FDIC said the estimated cost of the California-based bank's failure to its insurance fund is between $4 billion and $8 billion. The regulator said it will operate IndyMac to maximize the value of the firm for future sale. IndyMac's primary regulator, the Office of Thrift Supervision, blamed a senior lawmaker's comments for causing a run on the deposits at the largest independent publicly traded U.S. mortgage lender. From Bloomberg: <><>IndyMac came under fire last month from U.S. Senator Charles Schumer, who said lax ...
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Second Largest Bank Failure in U.S. History: Feds Seize IndyMac
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It's no longer a rumor; it's now news. IndyMac (IMB) has failed. From Reuters: The FDIC said the estimated cost of the California-based bank's failure to its insurance fund is between $4 billion and $8 billion. The regulator said it will operate IndyMac to maximize the value of the firm for future sale. IndyMac's primary regulator, the Office of Thrift Supervision, blamed a senior lawmaker's comments for causing a run on the deposits at the largest independent publicly traded U.S. mortgage lender. From Bloomberg: <><>IndyMac came under fire last month from U.S. Senator Charles Schumer, who said lax ...
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Confidence in global economy falls on Lehman, AIG concerns
Filed under: Forecasts, Bad news, Merrill Lynch (MER), Federal Natl Mtge (FNM), Countrywide Financial (CFC), Economic data, IndyMac Bancorp (IMB), Lehman Br Holdings (LEH), Bear Stearns Cos (BSC), Housing, Recession <>Confidence in the global economy fell in September, as concern mounted about the health of the U.S. economy and global financial system following the bankruptcy of Lehman Brothers and the near bankruptcy of AIG, which prompted a U.S. Federal Reserve intervention, a new survey indicated.
The Bloomberg Professional Global Confidence Index fell to 11.3 in September from 14.1 in Augus...
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