June 27, 2008

See ya IndyMac. Shouldn't have made all those "liar's loans". Shouldn't have knowingly enabled rampant mortgage fraud. And oh, call some lawyers.


Gee, we didn't see this one coming, did we HP'ers?

Oh, yeah, I guess we did. Here. And here. And here. And here. And that's just for starters.

You'd have to be a total fool to have money (beyond FDIC) with banks like IndyMac. Or WaMu. Or Countrywide.

Get popcorn. And get ready for frog-marches.

Schumer presses regulators for action to avoid disaster from IndyMac; stock plunges


NEW YORK (Associated Press) - The possible collapse of big mortgage lender IndyMac Bancorp Inc. poses significant financial risks to its borrowers and depositors, and regulators may not be ready to intervene to protect them, Sen. Charles Schumer, D-N.Y., said Thursday.

A wave of IndyMac depositors withdrawing their funds could leave IndyMac "in a disastrous financial situation," Schumer said.

24 comments:

Lost Cause said...

Thanks for the wonderful news, Keith. It couldn't happen to a better bunch of crooks.

Anonymous said...

There are going to be some sweet deals on office furniture in the next year or so.

I've always wanted one of these Herman Miller Aeron chairs on the cheap.

Anonymous said...

Yeah they led me on for an IT Job 6 months ago!!!!! Kept promising to get back with. Now who needs a job??? HA HA HA !!!!!

Agent 99 said...

PopcornPANIC
I took my son to see Kung Fu Panda.
Adult Ticket $6.75
Child Ticket $5.75
Small Popcorn & bottle of Water $8.25

$20.75!!!!!!

From now on, tap water and home made popcorn (with real butter) and FREE HousingPANIC (Priceless)

million said...

Schumer wrote, "The regulatory community may not be prepared to take measures that would help prevent the collapse of IndyMac or minimize the damage should such a failure occur."

why would the regulatory community, at this point, bother to "prevent" the collapse??

godd*mnit!!! i hate that f*cking corrupt Wall Street whore, Schumer!

Anonymous said...

amazing, they are just realizing stability issues at indymac?

monkeys. all of them, monkeys.

Anonymous said...

I'm willing to bet that the Indymac CEO forgot bring his check to the Chucky Schumer fundraiser this year.

micahel said...

"A wave of IndyMac depositors withdrawing their funds could leave IndyMac "in a disastrous financial situation," Schumer said."

so would lending an asston of money to folks who want pay it back.

Anonymous said...


Adult Ticket $6.75
Child Ticket $5.75
Small Popcorn & bottle of Water $8.25

$20.75!!!!!!


That's why I carry a manpurse to bring drinks and snacks into the theater

Ritchie said...

Agent 99

A single cinema ticket in london is $20. :))

No wonder we are called rip-off UK!

Lien Satisfaction said...

It's not like the FDIC insurance pays back those depositors their $100k right away.

Last I heard they have ten years...

Anonymous said...

Trading Halted

Anonymous said...

HOW IS IT that the stock is under a dollar, and IMB still isn't BK??

They are swirling down the bowl, as far as I am concerned...and WHAT does this tell us about the state of the ALT-A loan market??

It's coming at us, fast and furious!

Anonymous said...

You are such idiots. To sit back and think that this is "good" in anyway simply shows your ignorance to a situation FAR beyond any loans that Indymac made. They are just one more caugth in the undertow of what was the secondary market. Again, who did they make all these "liar loans" too. Liars? No. Thank Al Gore though so you have the internet to post your dribble. Your fools.

Frank@Scottsdale-Sucks.com said...

There are going to be some sweet deals on office furniture in the next year or so.

I've always wanted one of these Herman Miller Aeron chairs on the cheap.


Already happening....

I moved into a new office that is twice the size of the old one, at half the price!! And guess who was there before me - a mortgage company. Office prices have plummeted with all the mortgage shysters packing up and getting evicted. Almost every vacant space I looked at still had a mortgage or realtor sign on the door :)

Then I went on craigslist and found another mortgage joker who was selling their almost-new office furniture for pennies on the dollar so I got a few grand worth of stuff for $300 .... LOL

Frank@Scottsdale-Sucks.com said...

I know that 95% of senators and congressmen are corrupt, and I take it at face value, but for some reason the mere sight of that lowlife Schumer makes my blood boil like no other.

gone far enough said...

ron paul on iran and energy policy. get ready for sky high oil.

http://www.youtube.com/watch?v=7354M1QmGYQ&eurl=http://www.antiwar.com/blog/2008/06/26/ron-paul-on-iran-and-energy-policy/

Anonymous said...

What!!!! No socialism for the wealthy bankers? That won't happen.

Anonymous said...

Like I said many times before, It's all rigged:

BusinessWeek -- Why U.S. Consumer Spending is Overstated

Today’s consumer spending numbers look pretty good, don’t they? Up 0.8%, more than economists expected. Sounds like those U.S. households just keep spending, no matter how depressed they are.

But guess what? Those numbers have a hole big enough to drive a truck through (or a Fedex plane, more likely).

It turns out that if I live outside the U.S. and make a purchase on a U.S. website—say, Amazon.com or Apple.com—that purchase is likely to be counted as part of U.S. consumer spending. That is to say, the consumer spending numbers—which are just supposed to include spending by U.S. households—actually includes some portion of online sales to foreigners.

What’s more, that number is surely growing rapidly because of the fall in the dollar over the past year, and because overseas economies have been stronger than the U.S.

For example, Amazon.com operates 7 international sites, including Japan, Germany, Austria, Canada, the United Kingdom, France and China. But everyone else buys from Amazon.com (if you live in Mexico or Spain, you might get the Spanish version of Amazon.com, but it’s the same one that Spanish-speakers from the U.S. would get).

Meanwhile, Apple serves the whole world from one site, www.apple.com.


http://tinyurl.com/4mrjrp

Anonymous said...

PopcornPANIC
I took my son to see Kung Fu Panda.
Adult Ticket $6.75
Child Ticket $5.75
Small Popcorn & bottle of Water $8.25

$20.75!!!!!!


That's why I only rent movies from Apple TV or use my EyeTV. You forgot to add price of gas + parking + annoying people.

Anonymous said...

As the IndyCrack shareprice has fallen from $46 to a pennystock, the CEO and rest of management still have their jobs. What a joke BOD.

Anonymous said...

I closed my CD and yanked all the money out TODAY! You don't wanna know what Monday holds????

Anonymous said...

The ignorance of the majority of comments is staggering - LOL. No wonder we are in a boat load of trouble. Can't even connect the dots properly. The financial meltdown affects EVERYONE, including you idiots with your lack of intelligence wagging your tongues.

happy homeowner in the stix said...

What kind of idiot puts money into a bank above the FDIC limits, anyway?

Sorry, but if you are that stupid or greedy, you deserve to lose it if the bank goes under.