Banking regulators close IndyMac, page 2

reply to post by pityocamptes

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Yes, they certainly will sell the mortgages off to other banks.. When Bank of America bought out a good portion of Country Wide, the Fed had to give BOA a crap ton of money, to the tune of tens of billions to "secure" the loans.. so that they don't take on the bad mortgages when they are themselves on shaky ground..

So who ever gets the sub prime accounts, the Fed will have to give charity to the buyer to secure the loans in the first place.. the charity money then will be used to speculate oil -- guaranteed income -- to secure the bad loans they took on, and their own. Oil at $250 by Autumn? I think so..

mybigunit

Lehmans shares have been decimated, the company is insolvent or near insolvency.. yes, they will get bailed out .. imo, it will be like Bear Sterns.. mp question the bank is in trouble though ..

If the market tanks on money Im jumping in for the long run

I will be in the Forex, betting the Dollar takes a nose dive against World currencies.

HimWhoHathAnEar

It's the money that will be printed to shore them up through the FDIC, Fed Drive up window

I agree, more Dollar de-valuation .. which is why I am betting the Dollar tanks..

Of course, this is a World economy.. if the Dollar keeps up it's current dive, (30+ percent lost value since Jan) inflation in Europe and Asia, and the ME, will continue to accelerate..

Driving oil prices up.

Charles Schumer -- Asshat of the day.

The banking regulator said it closed IndyMac after customers began a run on the lender following the June 26 release of a letter by Sen. Charles Schumer, D-N.Y., urging several bank regulatory agencies that they take steps to prevent IndyMac's collapse.

In the 11 days that followed the letter's release, depositors took out more than $1.3 billion, regulators said..

Here is what I want a little speculation on:

The FDIC planned to reopen the bank on Monday as IndyMac Federal Bank, FSB.

My sourcey source....

Originally posted by pityocamptes

Originally posted by mybigunit
reply to post by Rockpuck

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You are talking of a combined TRILLIONS of dollars. The Fed budget is only 2.5 T and we are so far in the hole that we cannot see the light of day. No, the pain will be here for a long time as the regulatorsd slice and dice these companies and sweep the collatoral damage under th rug. However, the implecations will be far reaching and it will crush the banking and credit businesses of the world...
You will get burned and burned big time. The bottom is no where close.
[edit on 11-7-2008 by pityocamptes]
[edit on 11-7-2008 by pityocamptes]
[edit on 11-7-2008 by pityocamptes]

My God man... You are talking financial Armogedon here. 2012 crap and all that is what we are really talking about. The entire banking and credit businesses of the world crushed because of all of this? It really will be every man for himself in a world like that....

reply to post by Perplexed

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Dude, just look at the numbers. Deritives up into the hundreds of trillions, massive bank losses, etc. This is only the beginning. Look at a US dollar fiat chart - we have started to go exponential - you can't print your way out of that sort of situation... another GD if we are lucky is coming...

reply to post by downtown436

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Current price is .18

Bought to soon my friend.

reply to post by Rockpuck

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Ok so let me get this straigh it will now be owned in a sense by the FDIC. Isnt the FDIC an arm of the federal reserve so in a sense the federal reserve will own indymac now? If this is the case WOW>......talk about a power grab. The thieving company called the FED is at it again. Causing the runs and then gobbling these places up for pennies on the dollar.

reply to post by downtown436

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I thought only those who have preferred stock get paid out in the event of total collapse and bankruptcy? Those with common get shafted...

Like I said in another post the FDIC only has 50 B left. Insiders are saying that Indy will, at a minimum, cost 20 B to save - the insiders know this and are playing the numbers down. I really do not see a "bail out". Just a slice and dice and ultimate bankruptcy... oh, and the CEO gets his golden shute

reply to post by pityocamptes

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Ok, so I am ignorant as to the ramifications of what may transpire on Monday. If everyone panics and Freddie and Fannie go the way if IndyMac what can we expect?

Is that a real in your face point of no return for even the ignorant laymen like me? I mean if it is how does the MSM and the government spin it? Or do the sheeple shrug as the tilde wave hits? Not much they can do anyway but you would expect more laymen like me to be at least a little bit interested.

I am scared out of my wits about this and I really have nothing invested in the stock market but then again this is much larger than the stock market isn't it?

This guy freaks me out more than ATS here...

Ambrosw doom and gloom here...

reply to post by Rockpuck

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You realize that if oil goes above $200 a barrel, that would be the end of civilization as we know it here in the US, right?

reply to post by mybigunit

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I don't honestly know WHO they are now owned by... technically speaking, they are still a publicly traded company, because the stocks are still being sold in after hour trading -- about .18 right now --

I assume it's .. still Indymac .. it's just under the leadership of the Federal Reserve now .. so I assume they are still publicly owned.



I have never studied the difference between "Federal Bank" and "Corporation" ..

My guess though, it's being held up by the Fed to be sold off piece by piece..

Personally.. I would not have bought stock in Indy after the Fed announced it was getting shut down...

Originally posted by windwaker
reply to post by Rockpuck

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You realize that if oil goes above $200 a barrel, that would be the end of civilization as we know it here in the US, right?

No, it wouldn't. It would make gas around $4.50-4.60 .... which would NOT shut the US economy down ... it would make it harder for many, but eventually you'll learn to not eat one night a week to afford the gas to get to work..

Where is alightinthedarkness ? He will have all the answers for all you doom and gloomer conspiracy shills


Mod Note: One Line and Short Posts – Please Review This Link.
Mod Note: Please Stay on Topic


[edit on 11-7-2008 by DontTreadOnMe]

reply to post by mybigunit

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HEY ...

Don't pick a fight with Light when hes not here..

Let's stick the TOPIC people and lets NOT go down the road of flaming trollish BS ..

Intellectual conversations ONLY. Thanks.

reply to post by Rockpuck

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have you seen this chart from the fed?

research.stlouisfed.org...

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