Tuesday, December 30, 2008
Fannie Mae Holding IndyMac Deal ‘Hostage’
Here is the latest news on the potential Indymac sale. http://www.housingwire.com/2008/12/30/fannie-mae-holding-indymac-deal-hostage-sources-say/ No mention whatsoever regarding what will become of the depositors that are still waiting for their money from the FDIC. Apparently everyone has their hands in the pie. While the FDIC continues to work a backroom deal with a private equity consortium known as HoldCo, who is looking out for the best interest of the depositors? I thought the FDIC could run Indymac for years if necessary. Clearly Indymac Federal Bank is entitled to TARP funds. Just use some of the TARP money to purchase the "toxic" mortgages and GIVE US DEPOSITORS OUR MONEY BACK !!!
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I was told by a FDIC agent that Indymac was not elegible for TARP money because they were already a failed institution.
ReplyDeleteMarc
Why would Indymac not be elegible for TARP money? According to the FDIC they are still a viable bank currently being ran by the FDIC that is being offered for sale. The only reason Indymac failed is because of an old fashion run on the bank which was created by leaking the letter to the press by Senator Chuch Schumer. You know what they can do with their TARP funds.
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