IndyMac Bank...

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IndyMac Bank...

Post  News Hawk on Mon Jan 16, 2017 8:14 am

You might not remember the IndyMac bank fiasco, which I often reiterated (though apparently not here) was the very cause for "The Great Recession". I remember it well, as Senator "Chuckie" Schumer caused a "bank run" on IndyMac bank, precipitating "The Great Recession".

https://en.wikipedia.org/wiki/IndyMac

Schumer's back in the news again, deciding if the former head of IndyMac bank should be confirmed as Treasury Secretary. (You'll remember that the DemWits confirmed a "tax-CHEAT" as their Treasury Secretary!)



Schumer’s action was so irresponsible that the federal Office of Thrift Supervision explicitly blamed Schumer for IndyMac’s collapse, saying in a July 11, 2008, press release that “the immediate cause of the closing was a deposit run that began and continued after the public release of a June 26 letter to the OTS and the FDIC from Senator Charles Schumer of New York.”


Read more: http://dailycaller.com/2017/01/15/exclusive-how-chuck-schumer-caused-bank-collapse-dems-now-blame-on-trumps-treasury-nominee/#ixzz4Vvg57DNH

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Evil or Very Mad

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News Hawk

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