IndyMac: Mini Bank Run, Thanks to Schumer

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The run on the bank came after a critical letter about it from Senator Charles Schumer, Democrat of New York.. In the days after Schumer's letter was released June 26, IndyMac customers. Thank you for subscribing.. The handful that have failed have been a small fraction of the size of IndyMac.

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The FDIC is certainly looking very closely at the bank’s books after a mini bank-run last week. IndyMac’s insured deposits grew 91%(!) in the year ending March 31st. As their equity has been hit by massive losses, and as “other” sources of financing have dried up, IndyMac has plugged the holes with new consumer deposits.

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IndyMac: Path To Failure. July 1: IndyMac responds to Schumer’s letters, saying it is working with regulators to improve its safety and soundness. Stock closes at 65 cents. july 7: IndyMac alerts the Securities and Exchange Commission that, "The Bank has continued to experience elevated levels of deposit withdrawals since Senator Schumer’s.

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Contents loose lips sink Charles schumer democrat Tourism led akers Rehabilitation enhancement program’ IndyMac: Mini Bank Run, Thanks to Schumer Thank You Chuck Schumer! Did Anyone Ever Tell You loose lips sink Ships?. us senator charles schumer democrat indymac bank run indymac failure senator schumers comments.

"Well, Jane, I’m down here at Indymac and there’s still no sign of a bank run. This is a big surprise given the recent news about the bank." And Jane replied, "Thanks, Jimmy! Keep us posted and be sure to let us know at the first sign of a run on the bank." What happened a day later? A run on the bank! Color me surprised.

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