IndyMac Assets to Be Bought by Private Group: FDIC

www.cnbc.com...

A consortium of private equity and hedge fund firms, including J.C. Flowers and Dune Capital Management, has agreed to buy the assets of failed mortgage lender IndyMac, the Federal Deposit Insurance said Friday.

The FDIC said it is selling the assets of IndyMac, which has been run by the agency since the lender failed in July, to IMB HoldCo in a deal valued at about $13.9 billion.

The group buying IndyMac includes buyout artist Christopher Flowers, hedge fund operator John Paulson, who gained billions of dollars betting against the U.S. housing market, and Steve Mnuchin, the chairman of Dune Capital and a former Goldman Sachs executive.

People I need you to listen to me here. If this isnt proof positive the free market works then I dont know what is. This story alone shows you WE SHOULD NOT HAVE BAILED OUT THE BANKERS!!!! In a free market people who managed their money right buys the assets of people who did not for pennies on the dollar. Then the people who managed right grow into bigger and stronger companies. Same happened to Lehman Bros who also had their assets bought up. People the banker bailouts was for one reason and one reason only. Crony Capitalism. Because of Henry Paulson and his ties to Goldman Sachs and Goldman's ties to AIG its no wonder these people have received billions. Taking care of your boys. In reality those places should of been allowed to fail and be bought up by private money who right now is sitting on a lot of it.

People we need to stand up to this theft. What is going to prevent it from happening in the future. This is theft of you and me to be given to some of the most powerful players. Think of the guy who just bought a 30 million dollar place after only being at Meryl Lynch for 3 months. These criminals shouldnt be staring at bailouts they should be staring at bailiffs in a courtroom. The free market does work and with the actions of the government I think its safe to officially welcome in the new America. The USSA.