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IndyMac: Mini Bank Run, Thanks to Schumer

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IndyMac Faces Bank "Run". His comments prompted agencies to restrict IndyMac’s borrowing ability which caused the company’s operating liquidity to about $1.7 billion. Senator Schumer responded, saying that the company’s business practices and poor supervision caused its problems.

Scrutiny over Indymac’s future had reached a fever pitch in recent weeks, as a leaked letter from Schumer to federal regulators questioned the financial health of the bank and led to a mini-bank.

Zee Links and Minifeatures: September 2008 Archives Links and minifeatures 2008 09 29 Monday. Said the man who killed IndyMac Bank by publishing a sensationalist letter and started this whole thing snowballing, about a man who tried to fix the problem before it got to anything like this magnitude.. run each candidate’s name and the.

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Charles Schumer (D-N.Y.) that expressed. services in the communities formerly served by IndyMac bank. IndyMac’s bankruptcy filing last week does not include the portion of the lender now being run.

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Word got out about Schumer’s concerns and we saw an old fashioned bank run. Per the report in the Wall Street Journal: The director of the Office of Thrift Supervision, John Reich, blamed IndyMac’s failure on comments made in late June by Sen. Charles Schumer (D., N.Y.), who sent a letter to the regulator raising concerns about the bank’s solvency.

Schumer is working on a bill to help out low income families help cover the bills. The senior Senator from NY also defended his comments on IndyMac, disagreeing with regulators who think his.

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IndyMac: Mini Bank Run, Thanks to Schumer. Past MBA Chairman David Kittle joins Interthinx .

IndyMac: Mini Bank Run, Thanks to Schumer. Shares in the lender have sat below the $1 low-water trading mark for nearly a week, and were up 8 percent to $.67 on the New York Stock Exchange in early trading Tuesday morning. Should the bank’s stock trade below $1 for an entire month, it would be in danger of delisting from the stock exchange.

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