UPDATE - IMPLODE-O-METER SCOOP IS NOW CONFIRMED BY THIS FDIC URGENT RELEASE:
IndyMac Bank, F.S.B., Pasadena, CA, was closed today by the Office of Thrift Supervision. The Federal Deposit Insurance Corporation (FDIC) was named conservator.
And any fool stupid enough to have more than the FDIC limits with Michael Perry and his gang of mortgage fraudsters, like his shareholders just lost everything
It's all coming apart now HP'ers.
All of it.
And HousingPANIC calls for the immediate arrest of IndyMac CEO Michael Perry for mortgage and banking fraud, securities fraud and Sarbanes-Oxley violations.
IndyMac under the control of FDIC
"The FDIC is in charge" was the verbal announcement ringing through the halls of IndyMac's Pasadena offices. "Everyone show up for work on Monday."
According to this source, $190 million was pulled in yesterday's run, and $100 million today.
Mr. Perry left for a haircut at 4:00 pm.