Indymac Bank, pulls a major Con-Job

There's no Business like Show Business, but the Banking Business is in the Con-Job Business, so don't trust a Bankster to lend you an Umbrella on a Rainy Day

America's regulators were last night shoring up the country's financial defences, after one of the biggest bank failures in US history sparked fears about the viability of the world's largest mortgage providers.

The Northern Rock-style collapse of California's Indymac Bank, which had assets of $32bn (£16bn), came amid speculation that regulators are also preparing to step in to save the two federally-backed finance houses known as Fannie Mae and Freddie Mac, which together have commitments of $5 trillion, amounting to half of America's mortgage book.

www.independent.co.uk...

What can you expect of the corrupted capitalism going wild, no regulations and the blessings of a federal reserve to come to the rescue at the expenses of tax payer money.

Got to give it to them they are making a killing and they do not give a darn which hard working American they are killing in the way.

That is the American way only if you belong in their ranks.