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".

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:

Evil or Very Mad

..."The beauty of being a liberal is that history always begins this morning..."
News Hawk

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