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dave_donhoff

IndyMac Bancorp - Wholesale/Retail (Imploded)

dave_donhoff
15 years ago

I previously broke the commercial shuddering.... now the inevitable;

IndyMac Bancorp - Wholesale/Retail (Imploded)

http://ml-implode.com/imploded/lender_IndyMacBancorp_2008-07-07.html

<_snip_>
From an email this morning:

"Indy Mac is closing TODAY. The entire Marlton NJ office is apparently being shut down and their other operations offices are closing. All wholesale operations are gone."

As this news rolls across the country, we will keep you updated on developments. One source says as many as 4,000 people will be laid off. It's early in the day, but an official announcement is expected within hours as to the extent of the shutdown.

<_>

Dave Donhoff

Leverage Planner

Here is a link that might be useful: IndyMac Bancorp - Wholesale/Retail (Imploded)

Comments (2)

  • dreamgarden
    15 years ago

    Wall Street Journal-Sen. Schumer said "If OTS had done its job as regulator and not let IndyMac's poor and loose lending practices continue, we wouldn't be where we are today. Instead of pointing false fingers of blame, OTS should start doing its job to prevent future IndyMacs."


    What will they do next?

  • turnage (8a TX)
    15 years ago

    Apparently let the FDIC (taxpayers) bail them out.

0