Wednesday, January 7, 2009
Know When To Hold 'Em
The FDIC sells failed IndyMac Bank too soon—and for too little. Here is a recent article which effects all of the uninsured depositors Click HERE to read. The FDIC said it could run Indymac for years if necessary. I have news for everyone, the FDIC has no interest in insuring depositors that were lied to by Indymac Bank that exceeded FDIC limits or whose beneficiaries were denied coverage. The FDIC knew what was going on and what banks were telling their customers. They choose to look the other way. They are just as at fault.
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50% uninsured depositors money held up at IndyMac is about $270 million, if FDIC is getting $14 Billion from IndyMac Sale after putting out $9 Billion, FDIC is net positive $5 Billion: cannot FDIC or IndyMacBuyers make uninsured depositors whole for $270 million to preserve integrity & faith in our financial system ? IndyMac is the only major bank to fail in 2008 where depositors have lost their hard earned money.
ReplyDeleteRajesh Tangri, rtangri@juno.com, Cel 408-858-3148